HomeMy WebLinkAbout02-3081HASMUKH PATEL,
d/b/a ONE STOP
CONVENIENCE STORE
Plaintiff
ARTHUR BRUAW, JR.,
Defendant
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL ACTION - LAW
,o.
JURY TRIAL DEMANDED
NOTICE TO DEFEND AND CLAIM RIGHTS
YOU HAVE BEEN SUED IN COURT. If you wish to defend against the claims set forth in the
following pages, you must take action within twenty (20) days after this Complaint and Notice are
served by entering a written appearance personally or by any attorney and filing, in writing, with the
Court, your defenses or objections to the claims set forth against you. You are warned that if you fail to
do so the case may proceed without you and a judgment may be entered against you by the Court without
further notice for any money claimed in the Complaint or for any other claim or relief requested by the
Plaintiffs. You may lose money or property or other rights important to you.
YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO NOT
HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET
FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP.
Cumberland County Bar Association
2 Liberty Avenue
Carlisle, PA 17013
A VI$O
Le hah demandado a nsted en la cone. Si usted quiere defenderse de estas demandas expuestas en las
paginas siguientes, nsted tiene veinte (20) dias de plazo al partir de la fecha de la demanda y la
notifieacion. I-lace falta asentar una comparencia eserita o en persona o con tm abogado y entregar a la
cone en forma escrita sns defensas o sns objeciones a las demandas en contra de so persona. Sea avisado
que si nsted no se defiende, la corte tomara medidas y puede continaar la demamda en contra suya sin
previo que nsted cumpla con todas las provisiones de esta demanda. Usted puede perder dinem o sus
propiedades u otros derechos importantes para usted.
LLEVE ESTA DEMANDA A UN ABOGADO RvlMEDIAT~NTE, SI NO TIENE ABOGADO O SI
EL DINERO SUFFICIENTE DE PAGAR TAL SERVICIO, VAYA EN PERSONA 0 LLAME POR
TELEFONO A LA OFICINA CUYA DIRECCION SE ENCUENTRA ESCRITA ABAJO PARA
AVERIGUAR DON-DE SE PUEDE CONSEGUIOR ASISTENCIA LEGAL.
Cumberland County Bar Association
2 Liberty Avenue
Carlisle, PA 17013
HASMUKH PATEL, :
d/b/a ONE STOP :
CONVENIENCE STORE :
Plaintiff :
.,
V. ,'
ARTHUR BRUAW, JR., :
D~nd~nt :
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL ACTION - LAW
JURY TRIAL DEMANDED
COMPLAINT
AND NOW COMES the Plaintiff, Hasmukh Patel, d/b/a as One Stop convenience
store, Pro Se, and avers the following facts in support of his action and claim for relief
against the Defendant, Arthur Bruaw, Ir.:
1. Plaintiff, HASMUKH PATEL, is an adult individual whose current address is
702 East King Street, Shippensburg,, Shippensburg Township, County of Cumberland,
Commonwealth of Pennsylvania 17257, hereinafter referred to as "Plaintiff?'
2. Defendant, ARTHUR BRUAW, JR., an adult individual, whose present address
is 8(~32 Lincoln Way West, St. Thomas, County of Franklin, Commonwealth of
Pennsylvania 17252, hereina~er referred to as "Defendant."
3. All matters relevant and pertinent hereto relate and refer to an Asset Purchase
Agreement (hereinafter "Agreement") executed by the parties hereto on September 19,
2001 regarding sale/purchase of a convenience store then known as "Shippensburg Mr.
B's #2;" but now known as the One Stop convenience store (hereinafter referred to as
"One Stop"). One Stop is situated at 702 East King Street, Shippensburg, Shippensbu~'g
Township, County of Cumberland, Commonwealth of Pennsylvania 17257 (UPI
1869-034). A copy of the Agreement is attached hereto, properly marked and identified
as Plaintiff's Exhibit "A."
4. The Agreement listed Plaintiff as Buyer and Defendant as Seller. The purchase
price for One Stop (together with real estate and improvements and ail other assets) was
Three Hundred & Forty Thousand ($340,000.00) Dollars. Allocation of the purchase price
is set forth in Paragraph 4 (with referenced Exhibit) of the Agreement, titled "Allocation
of Purchase Price."
5. Settlement on the Agreement was held on November 20, 2001 in Camp Hill,
Cumberland County, Pennsylvania, at which time the deed to One Stop was conveyed to
the Plaintiff, et al. A copy of the deed is attached hereto, as Plaintiff's Exhibit "B."
6. In the course of the parties conducting negotiations for purchase/sale of what
was then known as Shippensburg Mr. B's #2 (but is now known as One Stop), the
Defendant presented/provided to the Plaintiff financial records and documents for at least
a twenty months period (Janua~ 2000 to August 2001) which were purportedly an
accurate reflection the gross revenues generated by the convenience store now known as
One Stop. The Defendant's financial records and documents are attached hereto, properly
marked and identified as Plaintiff's Exhibit "C."
7. In dutiful and reasonable reliance upon the accuracy of the Defendant's financial
records and documents, the Plaintiff entered into the Agreement with the Defendant to
purchase what is now known as One Stop.
8. But for the Defendant's presentation/provision of the afore-referenced financial
records and documents to the Plaintiff and by the Defendant and his reasonable reliance
thereon, the Plaintiff would not have purchased the One Stop.
9. The Defendant further emphasized to the Plaintiff, as an inducement for him to
enter into the Agreement, that the convenience store now known as One Stop would have
generated considerably more gross revenue, had he, the Defendant, not been an absentee
owner and if the store had been properly managed. The Defendant assured the Plaintiff,
that he, as an owner-operator would generate much more revenue than the Defendant had.
10. On or about November 20, 2001, the Plaintiff took possession of the One Stop.
11. Several months into his ownership/operation of the One Stop, it became evident
to the Plaintiffthat the financial records and documents presented/provided to him by the
Defendant were not an accurate reflection of the gross revenues the One Stop was capable
of generating.
12. To date, during the term of his ownership and operation of the One Stop, the
Plaintiff, who works at the One Stop an average of 12 hours daily, seven days weeldy,
generates approximately 25% less monthly gross revenues than those purportedly
generated by the Defendant during his absentee ownership. Such a disparity in revenue
stretches credulity.
13. Prior to purchasing the One Stop, the Plaintiff had extensive experience
purchasing, owning, operating, managing, supervising, monitoring, reorganizing and
restructuring convenience stores.
14. Furthermore, subsequent to Plaintiff's purchase of the One Stop, major and
material improvements were made to the physical premises: improved deli area,
redesigned and expanded fuel islands that accommodated more vehicles simultaneously;
addition of propane gas to product line; eliminated fuel prepay rule; a significant
investment converted the fuel islands to credit card pay-at-the-pump status, restrooms, an
ATM and other amenities were installed, all of which contributed to customer convenience
and were intended to increase revenues.
15. In the usual and general course of negotiating such sale/purchase transactions, it is
a customary business practice for the financial records and documents presented/provided
by the seller to the purchaser to be true and correct and not distort or misrepresent the
business' performance. It is unfair and improper to present/provide doctored documents.
16. To the best of the Plaintiff's knowledge, information and belief, the circumstances
and conditions that existed during the previous twenty (20) months or so of the
Defendant's ownership and absentee operation of the convenience now known as the One
Stop have existed during his ownership and operation. There are no "adverse impact
factors."
17. The Plaintiff believes and, therefore, avers that the Defendant knew or should
have known that the financial records and documents that he presented/provided to the
Plaintiffwere not an accurate reflection of the gross revenues the convenience now known
as One Stop was generating during the last twenty months or so of his ownership and
absentee operation.
18. The Plaintiff reasonably relied on the financial records and documents that the
Defendant presented/provided to him.
20. The Plaintiff's reasonable reliance on the financial records and documents
presented/provided to him by the Defendant was to the Plaintiff's detriment.
21. As a direct, proximate, foreseeable and consequential result of the Plaintiff's
reasonable reliance on the Defendant's financial records and documents, which was and is
to his detriment, the Plaintiff sustained monetary and other economic damages, proof of
which will be presented at trial.
WHEREFORE, the Plaintiff, Hasmukh Patel, respectfully requests that this
Honorable Court enter judgment in his favor and against the Defendant, Arthur Bruaw,
Jr., for a monetary amount of pre and post judgment interest, as allowed by law, plus costs
and expenses of litigation and such other relief as this Honorable Court deems appropriate
and reasonable and law and equity permit or direct; the monetary amount sought by the
Plaintiff as judgment exceeds the local jurisdictional amount for referral of cases to
compulsory arbitration.
Date
Respectfully submitted,
Hasmukh Patel, Pro Se, Plaintiff
702 East King Street
Shippensburg, Pennsylvania 17257
VERIFICATION
I, HASMUKH PATEL, Plaintiff in the above-captioned action, verify that the
averments made in the foregoing Complaint are true and correct to the best of my
knowledge, information and belief. I understand that any false statements herein are made
subject to the penalties of 18 Pa. C.S. §4904, related to unsworn falsification to
authorities.
Date
ASfiSET PURCHASE AGREEMENT
AGREEMENT made this day ofO(L~o ~_.~n~g ¥, 2001, by and between Mr.
Art Bruaw with offices at 8632 Lincoln Way West, St. Thomas, Pennsylvania 17252
(hereinafter referred to as "Seller") and HASMUKH PATEL, an adult individual with
offices at 315 East Main Street, Hummelstown, Pennsylvania 17036 or ttis nominee
(hereinafter referred to as "Buyer").
WiTNESSETH:
WHREAS, Seller is, engaged in the business of operating a Citgo Gasoline Station and
Convenience Store known as "Mr. B's" (the "Business"); and
WHEREAS, in connection with the operation of the Business, Seller is the owner of
certain real estate, equipment machinery, fixture, and other assets; and
WHEREAS, Buyer wishes to purchase certain assets and business of Seller, more
specifically set forth hereinafter, and Seller wishes to sell the same to Buyer.
NOW THEREFORE, the parties, intending to be legally bound, do hereby agree,
covenant and represent as follows:
Purchase and Sale: Seller agrees to sell to Buyerx who agrees to purchase the
Business together with the following assets:
~o~ xC-~q~v
(a) The real estate located at,~k~fEast ~ing Street, Shippensburg, PA. 17257.
(b) The furniture, fixture, equipment and supplies identified on Exhibit "A";
2. Agreement Not to Compete: In connection with the purchase and sale of the
assets hereunder, Seller agrees to execute in favor of Buyer an Agreement Not to
Compete in a similar type of business within a radius of 7 miles of the Business for a
period of five (5) years, in the form attached hereto as Exhibit "B".
3. Purchase Price: The Purchase Price is Three Hundred Forty Thousand
Dollars ($340,000.00) for the assets set forth at Paragraph l(a) and l(b) above.
assets to be conveyed shall be conveyed hereunder in the following manner:
Real Estate and Improvement
All other Assets $ 40,0~(~.00
TOTAL $340,q00~00
Allocation of Purchase Price: The Purchase Price shall be allocated among the
5. Payment of Purchase'Price: The Purchase Price shall be paid as follows:
(a)
(b)
Five Thousand Dollars ($5,000.00) to be deposited into escrow account
upon signing of this Agreement;
Three Hundred Thirty Five Thousand Dollars ($335,000.00) payable at the
closing;
Closing: Closing shall take place at the offices of Buyer's'lender of the
property no later then October 30, 2001. At closing, the following deliveries shall
be made:
(a) Seller shall deliver to Buyer:
(i) The furniture, fixtures, equipment and supplies identified on
Exhibit "A";
(ii) Property executed Bill of Sale for all assets purchased pursuant to
this Agreement;
(iii) The Special Warranty Deed for the real estate such as to be insured
by a Title Insurance Company regularly conducting business in the
Commonwealth of Pennsylvania at regular rates;
(iv) Properly executed Agreement Not to Compete.
7. Closing Costs: All real estate taxes, utilities, sewage, refuse and disposal will be
prorated as of the date of closing. Each party will pay one half of the realty transfer taxes
and the cost of environmental study, phase I and the appraisal report. Each party will pay
its/his own attorney's fees.
Representations and Warranties of Seller: Seller represents and warrants as
follows:
(a) Seller is a Corporation duly organized, validly existing and in good
standing under the laws of the Commonwealth of Pennsylvania.
(b) Seller's Authority: The execution, delivery and performance of this
Agreement and sale contemplated hereby have been duly authorized by
Seller's Board of Directors and Shareholders.
(c) Absence of Liabilities: Seller represents and warrants that it does
not know or have reasonable grounds to know of any basis for the
assertion against Seller as of the date hereof, of any liability of any nature
or in any amount not fully reflected or reserved against in the balance
sheet as of December 31, 2000. Seller further represents and warrants that
it will pay all of its liabilities (including taxes) arising through closing
without exception, and the Buyer shall have not obligation with regard to
same.
(d) Taxes: Seller has paid any and all taxes (including but not limited to
income, sales corporate, franchise property, excise, and use), license fees,
or other charges levied, assessed or imposed upon its business and any
property of the Seller at the Business location, except those which are not
yet due and payable.
2
(e)
(g)
(h)
(i)
(k)
Title to As~e~s: Seller has good and marketable title to all of the
assets, subject to no encumbrances, whether by mortgage, pledge, lien,
conditional sale agreement, charge, security interest or otherwise, except
such as will be removed prior to or at Closing.
Condition of Assets: Seller represents and warrants that all equipment
and machinery are in good working order and proper repair and conform
with all applicable governmental codes, rules, regulations, laws, and
ordinances, and that there are no outstanding violationS, adverse
notices/conditions or inspection reports on the real property or the
Business assets. Seller further represents and warrants that the
underground storage tanks, piping, and monitoring system are in good
working order and proper repair and comply with all applicable laws,
codes and regulations. The ground is free from any hazardous
contamination.
Conformity with Applicable Laws: The Business has been operated and
conformity with all applicable laws and regulations, including but not
limited to applicable environmental statutes, rules and regulations.
Compliance with Local Ordinances and Applicable Laws: Seller's
present use of its real estate confirms to all zoning, safety, building, fire,
sewage and similar ordinances or public regulations and laws, including
environmental laws and regulations, and that Seller is not subject to any
unfulfilled or performed obligations under any such ordinances, laws or
public regulations. The Seller has received no notice by any governmental
or public authority with respect to any real estate upon which it operates,
including notices relating to violations of zoning, safety, building, fire
sewage, or similar laws or environmental ordinances which remain
uncovered; and
Financial Information: Seller shall give Buyer the opportunity to
inspect the business records, sales receipts, invoices, its cash register
tapes, canceled checks, bank statements, financial statements, sales and
payroll tax returns, income expense statements, local state, federal income
tax and any other tax return inquired by operation of law and other
business related documents or financial records for the last three (3) years.
The foregoing documents will be made available at a mutually convenient
time at Seller's business address. Buyer to inspect and approve all of the
above records at their own discretion.
Installation of new Dispenser: Prior to closing, Seller will install
two new gas dispensers with the card reader on it and the necessary
system to function fully.
Confidentiality: Seller warrants that Seller and all of their agents
will keep all of the contents of this agreement in strict confidentiality prior
to and after the closing. During the Due Diligence process Seller will not
solicit to sell their business to any other Buyer.
9. Representation and Warranties of Buyer: Buyer represents and warrants that
the execution and delivery of this Agreement and the performance by Buyer of his
obligation under this Agr~en~ent will not result in the breach of any obligation or contract
to which Buyer is a party.
10 Conditions Precedent: All obligation of the Buyer under this Agreement are
subject to the fulfillment prior to or at Closing of each of the following conditions:
(a) Financial Contingency: This Agreement is contingent upon Buyer
obtaining financing at terms and conditions he finds acceptable.
(b) Representations and Warranties True at Closing: All representations
and warranties contained in this Agreement shall be true at time of Closing
as though such representations and warranties were made at that time as of
that date.
(c) Performance: Seller shall have performed and complied with all
agreements and conditions required by this Agreement to be performed or
complied with them prior or at Closing.
11. Consultation Services: Seller or Seller's agent shall remain with Buyer for
a three (3) week period. Further, Seller or Seller's agent will provide expertise and
guidance to the Buyer on an as and when needed basis for a one (1) year for a total not to
exceed twenty five (25) hours.
12.
Conduct of Business Pending Closing:
(a)
(b)
(c)
Seller covenants that, pending closing:
The business of Seller will be conducted only in the ordinary course;
No contract or commitment will be entered into by or on behalf of Seller
extending beyond the Closing date except normal commitments for the
purchase of inventory and supplies; and
Seller will use his best efforts to preserve Seller's Business organization
intact and to keep available to Buyer the services of its present employees
and to preserve for Buyer the goodwill of Seller's suppliers, customers and
others having business relations with it.
13. Covenant of Continuation of Business: So long as Buyer owes Seller any
nominees under this Agreement, Buyer shall not sell or otherwise dispose of any of the
assets purchased hereby without prior written consent of the Seller.
14. Seller's Indemnification:
against and in respect of:
(a)
Seller shall indemnify and hold harmless the Buyer
(b)
Any damage or deficiency resulting from any misrepresentation, breach of
warranty, covenant or agreement, or nonfulfillment of any agreement on
the part of Seller under this Agreement, or from any misrepresentation in
or omission from any certificate or other instrument furnished or to be
furnished to Buyer under this Agreement.
All liabilities, obligations, claims, actions, suits, proceedings, demands,
assessments, judgements, costs and expenses (including fines, penalties,
interest and similar charges), and attorney's fees, incident to any of the
foregoing. Seller shall respect of any liability, obligation or claim to which
the foregoing indemnity relates. Buyer, at its sole option, shall have the
right to reduc~ any outstanding indebtedness of Buyer to Seller by the
amount of any such liability, obligations, or claim in lieu of demanding
payment therefor.
15. Buyer's Indemnification: Buyer shall be responsible for and shall indemnify
and hold Seller harmless from and against any and all claims, demands or causes of
action at taw and equity brought by and an all third persons, including (~without
limitation) Buyer's employees, agents, servants and representatives, ana also including
(without limitation) any private citizens, persons, organization, and any agency, branch or
representative of federal, state or local government on account of any injury (including
death), destruction, loss or damage of any kind or character to persons, property, or
natural resources, including clean-up costs and remediation or environmental
contamination, arising out of or in relation to any spills or other discharges of motor
vehicle fuel or petroleum products or other derivatives, which may occur on the property
after the date of Sellers conveyance thereof to Buyer and during the period of ownership
of the property by Buyer or his successors, assigns or nominees.
16. Survival of Representations and Indemnifications: All statements contained in
any certificate or other instrument delivered by or on behalf of Seller pursuant hereto, or
in connection with the transactions contemplated hereby, shall be deemed representation
and warranties by Seller. All representations, warranties and agreements made by Seller
in this Agreement, or pursuant hereto, shall survive Closing, but shall terminate upon the
discharge by Buyer of its obligations to Seller to pay for the inventory of merchandise in
the convenience store and petroleum products in the underground storage tanks.
Buyer Indemnification set forth at Paragraph 16 above, shall survive the Closing of this
transaction.
17. Brokerage: The parties hereto represent and warrant that all negotiations
relative to this Agreement have been carried on by them directly without the intervention
of any person to whom compensation and respect thereof may be due or owing.
18. Assignment: This Agreement shall be binding upon the respective heirs,
executives, administrators, and successors and, to the extent assignable, on the assigns of
the parties hereto
19 Cooperation: The parties hereto agree to execute any and all documents
necessary or appropriate in the performance of this Agreement, including specifically, but
not limited to bills of sale, and to do such other acts and things as may be reasonably
necessary or appropriate to effectuate the transactions contemplated by this Agreement.
20. Applicable Law: This Agreement shall be construed, interpreted and the
rights of the parties determined in accordance with the laws of the Commonwealth of
Pennsylvania.
5
21 Invalid Provision: ~ ~ The invalidity or unenforcebility of any particular provision
of this Agreement shall not affect the other provisions hereof, and the Agreement shall be
construed in all respect as if such invalid or unenforceable provisions were omitted.
22 Modification: No change or modification of this Agreement shall be valid unless
the same be in writing and signed by all parties hereto
23 Notices: All notices, requests, demands, and other communications
hereunder shall be writing and shall be determined to have been duly given if delivered
first class, postage prepaid at the following address:
If to Seller ¢ ~W~y West
P.O. Box 277
St. Thomas, Pennsylvania 17252
If to Buyer
Hasmukh Patel
315 E. Main Street
Hummelstown, PA. 17036
1N WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
on the day year first above written
ATTEST:
WITNESS
BUYER:
HASMUKH PATEL
ALLOOATION OF THE PURCHASE PRICE
PROPERTY ADDRESS:
703 E. King Street, Shippensburg, PA. 17257
Tax ID # 36-33-1869-34
TOTAL PRICE
$340,000 (Three Hundred Forty Thousand Only)
GOODWILL
EQUIPMENTS
REAL ESTATE
OTHER ASSETS
5,000
95,000
200,000
40,000
TOTAL 340,000
BUYER
/~ELLER ~
;ALES
SUPRERE
KEROSERE
UNLEABEB
UHLEABEO PLUS
SUBTOTAL ~TEREB PROOUCTS
LOTTO SALES
UELI SALES
LOTTERY COMHISS!ON
OTHER MERCHAH~ISE
CIGARETTES
CITGO REBATE
CIGTO REBATES
CASH 0/O
SUBTOTAL OTHER SALES
TOTAL SALES
COST OF SALES
SUPREME
KEROSENE
UNLEABED
UHLEABEB PLUS
SUBTOTAL NETEREB PROOUCT$
LOTTO EXPENSE
DEL! ~URCHASES
OTHER HECHAHBISE
CIGARETTES
OTHER SALES.
DISCOUNTS
SUBTOTAL OTHER HERCHAHBIOE
TOTAL PURCHASES
E.C.BARNEO, INC.
S' OB-Bi-B1 to )B-31-91 ....... Year To
3,814.05 3.79
11&.27 .12 11,664.45 1.53
36,682.76 37.46
6~675.~8 6.B3 ' ~7~18~A~ 7.48
47~2~9,86 48,)I )8S~631.I) )8.45
15,444.8B 15.8~ 115,963.BB 15.]7
5~8~9.48 6,84 53,B91.51 6.95
673,16 .69 5,97~,4Z ,78
]9,878,B4 2B.~4 132~639.89 17,~5
9,a65.TB 9,28 71,129.56
6,65 ,~l
5B,51B.32 51.67
97,729.18 iBB.B~ 764~352~BB
3,332.78 B7.36
8,723.17
5,993.48 89.78 51~28~,47
43,748.Yg 44.77 348,88B.3~
15,444,BB lBO.BO
7,1B3.~7 78.36 ~7sS~5,B6
44~468.71 44.44 316,679.1§ 41,43
IB¥, 6AIH/LOSS
TOTAL INVENTOBY ABJUSTMEHTS
TOTAL. COST OF SALES
GROSO PROFIT
SUPREME
KEROSENE
UNLEADSB
UMLEABEO.PLUS
SUBTOTAL METERED PRODUCTS
LOTTO SALES
DELI SALES
OTHER ~EBCNAMOISE
CIGARETTES
OIHER SALES
CASH O/S
TOTAL GROSS PROFIT
SMIPPEMSDUBG MR D~ 2
E.C.~ARNES~ INC.
-- OB'B1-)1 lO )B-)i')! --
A~ount )
BBtl4?.7B ?B.2I
482,~7 12,64
46,45 ){,95
2~249,8§ 6,15
682,SB IB,22
3,46B.B7 7.))
36,742,7t4
673.16 4.16 5,978,48 5.15
1,857.79
2,B67.37 1~,48 23,774,~J , 17,92
1,962.13 21.64 13,B18,7) 19.42
6.65 ,98 &~ .11
L457,51) 1BP,B) (88,)~] Ill;II,
?,57B.48 ?.7~ ~8,778.~ 12.72
OPERATIN~ EXPENSES
~AGES
SUPPLIES ~N~ TOOLS
EOU~P~E~T RE~TAL
EOUIP~E~T REPAIR
DUTSIOE
P~OPERT¥ REPA~R
STATION RENTAL
OEPRECIATION
)ANK/CREOIT CARS CHARGES
BA~ CHECKS
TELEPHONE
ADVERTISINC
· PAYROLL TAXES
EMPLOYEE OEHEFITR
UNIFORMS & LAUNORy
INSORANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
tMCOME
NOHE¥ MARKET IRFENERT
TOTAL OTHER INCOME
NET PROFIT
SNIPPENSBURG MR B~s 2
E.C,OARNES~ IRC,
· %" 68'81-81 to 88'31-61
Aaount
7,716,1§
427,82 .44
.88
781.19
284.76
1,827.86
738.82
(163.788 .l?
27,29
148, 72 .14
578.17
128,68
974.86 1.86
365.98 .37
15~467.Z~ 15.83
4,873.15 ,64
2,234.28 '27
5,887,84 ,~
(613.?~)
1,38~.84
18,72i.25
11,286.88 1,47
1~654,78
2~1.1~
4,717,36 ~62
1,126,88 '
126,227~,
(5s896.?18 6,93
,86 :.ti{
Waypoint Settlement Services, LLC
1940 Carlisle Road, 2nd Floor
.~rk, PA 17404
~717) 779-0919
FINAL
B. TYPE OF LOAN
1. ~] FHA 2.[~ FMHA
4. [] VA 8.[] CONV. INS.
6. ESCROW FILE NUMBER: 7. LOAN NUMBER:
00001648-001 MCM
MORTGAGE INSUHANCE CASE NUMBER:
C. NOTE: T~is form is fumished to give you a statement of actual sethemenl costs. Amounth paid to and by the seffiement agent are shown.
items marked "(P.O.C.)" were paid outhide the closing; th ey are shown here for informational purposes and are not included in the
D NAME OF BORROWER: Paranjay B. Joshi, Heena Joshi and Hasmukh C. Patel
ADDRESS OF BORROWER:
E. HAME OF SELLER: Arthur Bruaw Jr.
ADDRESS OF SELLER:
F NAME OF LENDER: Waypoint Bank
ADDRESS OF LENDER: 101 South George Street
York, PA 17401
G PROPERTYLOCATION: 702 East King Street
Shlppensburg, PA 17257
Cumberland County UPI 36-33-1869-034
UPI 36-33-1869-034
H SE3~LEMENTAGENT: Waypoint Settlement Services, LLC
PLACE OF sETrLEMENT: 1940 Carlisle Road, 2nd Floor, York, PA 17404
I. SETTLEMENT DATE: 11/20/2001 PROHATION DATE: 11/20/2001
ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE;
ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE:
-106. c~,'TownTaxe$ 11/20/01 to 12/31/01 28.47 406. City/TownTaxes 11/20/01 ~o 12131181 28.4
IO7. Court, Taxes 11/20/01 to 12/31/01 53.57 407. CountyTaxea 11/20/01 to 12/31/01 53.5
109. SchoolTax 11/20/01 to 08/30/02 1,362.50 40[ SchoolTax 11/20/01 to 06/30/02 1,362.5
111. Equipment 85,000.00 411. Equipment 95,000.0
112. OtherAsse~s 40,000.00 412. OtherAsseta 40.000.0
202; Prindpal a~OUnl of new loan(s) 240,000.00 502. Seth~ent cha~es to Seller (line 1400) 2,399.5(
204. 504. Payoff of first mortgage loan
205 505. Payoff of second mot[gage loan
~ 507.
209. 509.
ADJUSTMENTS FOR ITEMS UNPAID BY
210. CET/Town Taxes 510. CityFFOW~l TaXes
211. Count~ Taxes 51 t. County Taxes
213. 5i3,
I
302. Les~ ~m0unt paid ~y~o~ B0~~ ~ ~0 ' 285,0~.~ ~6~.:.~[~ ~16~ i~ amount due Seller (line 520) 47.399.5
303. cas. ( ~.oa ) ( ~ ~0 ~'~ ~. 83,~.79 s03: CAS. ~~D~eo~) ( ~ ~0) S~LL~. 2~,~.0
BASED ON PRICES ~ %=
DIVISION OF COMMISSION (LINE 700) AS FOLLOWS:
701. $ to FUNDS AT
SETTLEMENT
2,65000
Commission paid at settlement
801. Loan Origination Fee % to Waypoint Bank
802. Loan Discount Fee %
PASO FROM
SELLER'S
FUNDS AT
SETTLEMENT
803, Appraisal Fee lo;
806. Mortgage Insurance Application Fee to:
807. Assumption Fee
808. Document Preparation Fee
809. Flood Certification Fee
to Waypoint Bank
to Waypolnt Bank
810 UCC Search to Waypolnt Bank
901. Iritsrest From /day % ( days)
gO2. Mortgage Insurance Premium for Month(s) to
903. Hazard Insurance Premium for Years(s) to
904.
35000
2000
3800
t002~ t. lv[tw.ye Insurance months ~ $ per
1003. City Property Taxes months ~ $ 21,12 per month
1004. County Property Taxes mocths ~ $ 39.74 per month
~07, months ~ $ per month
1101. S~$rd o.' closing fee
1102. Abstract or tEle search
1103. Tltts examination
1104, Ti0e Insurance binder
1105. Document preparation
2500
(incrudes above items numbers:
1109. Title I~drd~e to Waypctnt Settlement Services, LLC
240t000.00
1203, State ~ Deed
1204. A~.~;~iiiri~,i[ of Rents ~o Recorder Of Deeds
1205
29.50
2,000.00
to Sharpe Gabler & Sharpe
Io BorOugh of Sl~tippensbu~
to CUmberland Frank n Joint Mun
119.s~
80.00
13,Section J - and - line 502, Section
7.53925 2,399.5~
Escrow Number: 0000t648-001 MCM
HUD Line D: (Name of Borrower) Pamnjay ,._.~shl, Heena Joshi, and Hasmukh C, Patel
HUD Line E: (Name of Seller) Franklin County Industrial Development Authocgy
I have care~lly reviewed the HUD*I Settlement Statement and to the best of my knowledge and be~ef, it is a true and accura{e statement of all receipts and
pisburser~en/s made on my account or bymeln this transaction, I further certifythat I have received a copy ortho HUD-I Setbemen[Statement.
· ,ower's Signatures: /'~
Paranjay B Jos i
Heena Joshi
Ha~nukh C. Patel
~PREME
KEROSENE
OHLEADE)
UNLEADEO PLUS
SUBTOTAL ~ETEREO PROOUCTS
LOTTO SALES
4ELI SALES
LOTTERY COHHISSIDH
}THER ~ER£HANBISE
~I~ARETTES
:IT~O REBATE
CI~TO REBATES
~ASH
SUBTOTAL UTHER SALES
TOTAL SALES
SHIPPEHSBUR~ MR O's 2
E.C.BARNES! IHC.
-- 87-01-41 to 67-31-41 ....... Year To Bate .....
A~ount % A~ount %
3,757.84 3.82 23,i82.64 3.48
74.11 .88 11~548.18 1.73
36.369.28 36.95 253,188.34 37.98
6~185.28 6.28 54,516.71 7.58
46~385.63 47.85 338~421.27 ~6.77
17~858.88 17.43 188,519.BB 15.88
5.681.39 5,77 47,192.63 7.88
~73.87 .99 5~38~.27 .88
18,753.93 i9.26 112!761.65 16.92
%497.65 9.65 62,663.86 9.31
(49.514 .85 874.42
52~115.33 52.95 328~218.63 Ag.28
98~428.96 1BO.OB 6661631.94 188.86
P~ge:
T OF SALES
UPREME
ERUSEHE
NLEABEB
NLEADEO PLUS
SUBTOTAL METEREO PROBUCTS
OTTO EXPENSE
EL! PURCHASES
THER ~ECHANB!SE
IGAOETTES
THER SALES
)SCOUNTS
SUBTOTAL OTHER MERCHANBISE
TOTAL PURCHASES
S.218.58 85.67 19,939.21 86.81
42.86 57.83 8,65~.37 74.93
31.559.69 86.78 231~257.8~ 91.34
5.I28.34 83.87 45~288.99 89.66
39.941.47 48.58 385,189.48 45.77
I7.858.88 I88.48 186,519.88 188.88
Z~IA2.13 55.31 30~583.72 64.64
I4.~76.62 77.43 9!,854.43 84.75
7~673.52 88.79 54,212.29
.48 .88 .88
42!§56.27 43.23 272,28~.44 44.85
82.491.74 83.82 5771428.84 86.62
.~TORY ADJUSTMENTS
~H¥, GAZM/LOSS
TOTAL IHVEHTORT ABJUSTMERTS
TOTAL COST OF SALES
<OSS PROFIT
SUPREME
KEROSEHE
URLEAOEB
UHLEAOEO PLUS
SUBTOTAL HETEREO PROOUCTS
LOTTO SALES
OELI SALES
OTHER HERCHAMDISE
CIGARETTES
OTHER SALES
CASH OYS
SUBTOTAL OTHER HERCHAHDISE
TOTAL ~ROSS PROFZT
SHIPPEHSBURG HR O's 2
E.C.OARMESe IHC.
.-~7-01-O1 to ~7-31-~I ....... Year To Date .....
A~ount % A~ount %
.g~ .00 .OB .BO
82~491.74 83.B2 577~428.8A x86,62
538.46 I4,3) 3,242.83 13,99
31.25 42.17 2~894,B1 25.07
4~809.59 13.22 21~922.51 8.66
984.86 I6.1~ 5~221.72 18.34
6~364,16 13,7A 33~2BI.O7 9.83
973,87 5,71 5,30).27 5.27
2~539.26 44.69 16,OBB.31 35.36
4~277,31 22.57 211706.~2 19.25
1~82A,I~ 19.21 11~851,57 19.1~
.00 .00 .88 .~
(49,51) lBO,BO 374.42 i~B.BB
9,565.)6 I8,~5 55~921.19 17.B4
15.929.22 16.18 BOi20S,B6 13,38
Page:
~ATING EXPENSES
#A~ES-NANAGER
WAOES
SUPPLIES AN~ TOOLS
r~U!PHERT RENTAL
EOUIPNENT REPAIR
OUYSIOE SERVICE
PROPERTY REPAIRS
TANK/ENV INSP FEES
UTILITIES
STATION RENTAL
OEPRECIATION
~ANK/CRE~IT CAR~ CNAR~ES
BA~ CHECKS
TELEPHONE
AOVERTISING
PAYROLL TAXES
EMPLOYEE BENEFITS
uNIFORNS & LAUNORY
INSURANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
HER IHCONE
~ONEY HARKET INTEREST
TOTAL OTHER INCONE
SHIPPENSSURG HR 8's 2
LC.BARNES, INC.
-- 07-81'61 to 67-31-O1 ....... YeaF To Oate .....
' ~ A~ount % A~ount X
.~0 .60 .O0 .BO
6~B86.61 7.~ S2~§95.63 7.89
534,72 .54 4~446.1S ,67
.BO
580.2~ .59 5~25.85 .75
~51,O7 .1S (613,93) .B9
284.76 .29 1,164.28 .17
I!$24.88 1.)§ 91)74.1~ 1.41
l~48B.R8 i.~2 ~,860.68 1.47
738.82 .7~ 5,171,74 .78
~87.59 .31 i~654.78 .25
lg7.g2 .1I 364,67 .65
3B.68
616.43 .62 §~!22.86 .77
§94.17
168.66 .16 992.BB .15
974.66 .99 6!818.86 1.82
.08
365.8~ .37 11881.53 .16
15,852.9g 15.29 116!759.67 16.6i
.O0 .68 .88
Page:
NET PROFIT 876.~2 ,89 (21,55~.61) 3.23
SHIPPEHSBURG HR B's 2
SALES
SUPREHE
KEROSENE.
UNLEADED
UNLEA~EB PLUS
SUBTOTAL HETEREB PRODUCTS
LOTTO SALES
DELI SALES
LOTTERY COHHIOSION
OTHER HERCHAHBISE
CIGARETTES
CITGO REBATE
CIGTO REaATES
CASH
SUBTOTAL OTHER SALES
TOTAL SALES
COST OF SALES
SUPREHE
UHLEADEO
UHLEABED PLUS
SUBTOTAL HETEREB PROOUCTS
LOTTO EXPENSE
DELI PURCHASES
OTHER HECHAHOISE
CIGARETTES
OTHER SALES
· BISCOUHTS
SUBTOTAL OTHER HERCHAHOISE
TOTAL'PURCHASES
E,C.BARNES, IHC,
-- 85-U1-{1 to 65-31-81 ....... Year To hie .....
2,7?5,63 2,6~ i6,278.21 3,48
375.74 .36 11,321,~;? z. 43 .
44,~58.I6 42.63 I75,1~0.47 37.5A
7~827,77 7,5! 37slSl, 1& 7.95
~s449.SB SS.17 259,683,~8 ~1,48
14,284.89 13.62 67,745.88 14,53
8q086.68 7.75 33,595.6!
66V.86 .64 3,582.90 .77
16,727.68 18.04 77,523.11 16.63
?,112.3! 8,74 43,712.3~ 9,37
.BB .B6 ,88 ,88
.66 ,6t .8! .88
~2.26 ,83 447,l! .18
A8,832.21 46.83 226,686~17 . 48.60
................................. .? ......
1B4,281.51 lUg. JO 466~289,~$
2~A44.35 87.43 14,835.1~i 86.25
224.4~ 59.72 8,519.?,? 75,26
41,888.95 ?4.22 163~436.68 93.37
7,114.52 96,89 33s957,~{~ 91,65
51~664.22 49.54 219~948.74' 47.i7
IA,2UA.BO 1BU.UB 69,945,ll ill,ii
5,UZ3.1A 61.?? 22,024,18
14,664.66 83,72 64,264.47 82.82
?,589.85 83.29 35,455.58 81,11
,UB .88 .S! .8l
.66 .68 .Gl
48,811.&I 39.14 199~429.15 4B.&2
92,475.83 88.68 4U9,377.89 8'7.79
I#¥E#TORY ADJUSTmEHTS
INV. ~AIHtLOSg
TOTAL IHVEHTORY ADJUSTREHTS
TOTAL COST OF SALES
GROGS PROFIT
SUPREME
KEROSEmE
UHLEAOE)
UNLEADED PLUS
SUBTOTAL HETERED PRODUCTS
LOTTO SALES
DELI SALES
OTHER HERCHANOISE
CIGARETTES
OTHER SALES
CASH
SUBTOTAL OTHER HERCHAHDISE
TOTAL GROSS PROFIT
SHIPPENS)URG mR S's 2
E,C,DARmES~ INC,
-- OS-gl-m1 to 65-31-SI ....... Ye)r Te.:l~! .....
ARount % ~A ' X
.il .il ,Il .11
.DR .)6 .OI .!1
92~475,85 8B.68 419'i37~.B9 B7.77
351.28 12.57 2~237.6m 13.75
151.34 46.26 Z~6~) 24,.74
713.25 9.1J )~1)3,11 g.)5
3f785. iO &.B3 19~734.84 8.23
&6?.Bi 4.72
3?673.52
2~722.46 16.28
1~522.4& 1&.7!
32.28 169.9!
Palm~ 2
SHIPPERS~URg HR 0~ 2
OPERATIH$ EXPENSES
WAGES~NANAGER
NAQE~
SUPPLIES ARS TOOLS
:~U~PMENT RENTAL
i~iI!FMEHT REPAIR
OUTSI~E SERVICE
PROPERTYREPAZRS
TANK/EN¥ INSP FEES
UTILZTZES
STATXON RENTAL
OEPRECIATION
BANK/CREDIT CARD CHARGES
SAD CHECKS
TELEPHONE
A~VERTZSIRO
PAYROLL TAXES
EHPLOYEE BENEFITS
UNIFORRS & LAOHORY
IHSURANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
OTHER IHCONE
HONEY MARKET INTEREST
TOTAL OTHER INCOME
RET PROFIT
E,C,OARNES~ INC.
-- OS-SI-SI to S5-31-{1 --
Aeeu~t · ~
..... Year ~To
.O9 .OO .Il .11
7~9H.36 7.59 38~267.64 '8,21
~39.4N .61 2~837.38
,NO ,lO .Ii ,Il
1~818.22 1.74 4~4~,6~
,88 ,11 !~' '
284.76 .27
1,129.58 1,67 6~!131,~t 1.32
738.82 ,7! 3~i~4.1l
361,47 .3S 1~117,2~
574.17 .55 2~978.8~
168.96 .IS 714.6!
774.6N .73 4~871.~8 1.14
,oo .so ss.ii
17,447.99 1~.73 77t751.13 17.15
.68 .NN
.OD .66 .88
(5~64Z,32)
SALES
SUPREHE
KEROSENE
UNLEADED
UNLEADED RLOS
SUSTOTAL NETERE) PRODUCTS
LOTTO SALES
DEL! SALES
LOTTES¥ CONNISSION
OTHEROERCHAMSISE
CICARETTES
CITGO REBATE
ClGTO REBATES
CASH O/S
SUBTOTal OTHER SALES
TOTAL SALES
COST OF SALES
SUPRENE
KEROSENE
UNLEADED
UNLEA)EO PLUS
SUBTOTAL NETEREO PRODUCTS
LOTTO EXPENSE
)ELI PURCHASES
OTHER NECHAMDISE
CICARETTES
OTHER SALES
,DISCOUNTS
SUBTOTAL OTHER MERCHANDISE
TOTAL PURCHASES
E.C.BARHES, INC,
-- 84-81-81 to 84-38-D1 ....... Year To
Anount
3,631.28 3.69 13,477.18 3,72
52,823.16~3.6e
12,863.50 13,07 53,541.11
7~311.51 7.43 25r889,1~ 7.18
&71.18 .68 2,913.84.
""
'" '"
,88 ,OD · Il
148.88.14 414.73 ,11
45,574.64
98,397.88 1RD, JO 362,DD8.2~ l!l Il
3,196,44 88.DZ 11~5DDo76 aa, ii
751,44 58.44 8,275,3J '75.8!
36,935.23 93.24 121,555.73 93mOO
7,5S6,31 78,37 26,842,44 91.86
49~38Z.42 49.17 168,284.52 46.4?
5,375,37 73.52 ' '
13, IS2.28 87.35 §e,i?}.i? B2.57
7,667.46 7%97 27,86~,73 88.$4
.SS .88 .DJ .8,
.8J .DJ ,JJ~? ,11
39.64 148,617.54 41.1~
88.81 316,762. D6 87.54
~1101~1~
INVENTORY ADJUSTHENTS
TNV,. GAIN/LOSS
TOTAL INVENTORY ADJUSTHENTS
TOTAL COST OF SALES
GROSS PROFIT
SUPREHE
[EROSENE
UNLEADED
UNLEASEO.?LUS
SUBTOTAL HETERED PROOUCTS
LOTTO SALES
~ELX SALES
OTHER HERCHANHSE
CIGARETTES
OTHER SALES
CASH O/S
SUBTOTAL OTHER NERCHANDISE
TOTAL GROSS PROFIT
SH]PPENSSURG HR ~s 2
E.C.SARNES, XNC.
~ -- 6A-BI-R1 to
Amount
.t!
, ,1!
87~371.95 88.8!
434.76 11.77
534.29 41.56
2,671.12 6,74
797,57 %63
4,409,74 S,AR
671,19 5,22
ls736.14 26,48
146,83 166.66
6,566.11 14,41
11,~R5.85 11.17
316,'?g2~g6 87.54
14.66
8,14
15~949,76 8.66
2~913,84 5.44
8,498,18 33,3!
1e,596.16 ~7.43
29,156.42 t6.40
45,106,18 12.46
tlpor~ 5 For~t.' I
OPERATING EXPENOES
WAGES-NANAGER
WAQES
SUPPLIES AND TOOLS
EOUIPNENT RENTAL
EQUIPN£NT REPAIR
OUTS[IE SERVICE
PROPERTY REPAIRS
TANK/ENV INSP FEES
UTILITIES
STATION RENTAL
DEPRECIATION
BANK/CREDIT CARD CHARGES
BAD CHECKS
TELEPHONE
ADVERTISING
PAYROLL TAXES
EHPLOYEE BENEFITS
UNIFORNS & LAUNDRY
INSURANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
OTHER INCONE
HONEY HARKET INTEREST
TOTAL OTHER INCOHE
'NET PROFIT
SHIPPE~URG HR R~ '2
E.C,BARNES~ INC,
-* 84-Ol-O! to R4-~S-I! --
Aeount X
.RR ,BO .J! .J!
6~?R7.72 7.82 3B,357.68 8J39
317.27 ,32 2~197,98 .61
.Il ,fl ,!l ,Il
354.iR .36
.,, .,,
25R,DO ,25 2~O, *
i~4BR.O{ 1.42 5~&lJ, lJ
73B.82 .75 2,Y§5.20 .~2
488.14 .41
699.67 ,71
684.1~ .61 2,396,68 .66
128.88 .13 $44.H
· JN .BO RS.l!
· ID .Ri
15~OBB. 56 ~5,24 62~5R2, I3 17.27
,H ,RR .il
,DR ,BO .BI
(3,974,71) 4.B6
O~/31/O1
~ep~rt~' ~ Format: 1
SALES
SUPREHE
KEROSEHE
UHLEAOEO
UNLEADED PLUS
SUBTOTAL HETEREB PRODUCTO
LOTTO OALES
OELI SALES
LOTTERY CONHIOSIOH
OTHER HE~CHANOISE
CIGARETTES
CITGO REBATE
CICTO REBATES
CASH O/S
SUBTOTAL OTHER SALES
TOTAL SALES
COST OF SALES
SUPRENE
HEHOSENE
UNLEADEO
UNLEABEO PLUS
SUBTOTAL HETERED PROOUCTS
LOTTO EXPENSE
OELI PURCHASES
OTHER HECHAHOISE
CIGARETTES
OTHER SALES
DIOCOURTS
SUBTOTAL OTHER HERCHANOISE
TOTAL RURCHAOES
SHIPPEHOBURG HR B~s 2
E.C. DARNES, IHC.
..... Ymmr
3~477.~8 3.84'
2,8B4.57 3.1A
32togB.1S 35.43
7,3~4.96 8.16
45,777.66 5L52
13~271.1D 14.A7
6,497.9D 7.17
665.BD .73
15,9B1.g6 17.55
8,174.83
.BB
,SR ,11
9~658.77 3.66
91~9D3.96 34.55
2D,922.$L 7.94
13i,4t1.12 4~.85
41,677.~1 ~1(i.43
1Bt197.61 6,91
25~12.5~
.11
299.96 .33
273.91 ,ii
44,831,65 4~.48 132,177.32
91,668.31 1OD. OB 263~61B.44
3s208.54 92.28
1,7B5.87 6LB2
29,B56.77 91.52
111,Jl
7 143.9:5
48,781.56 4~.~1
3,397.15 52,28
12,562,29 79.Ai
6,287.99 76.92
.BO .11
llg,?Bl.l! 45.48
37,097 ~7
,il .Il
,BI
76,318.99
39,22 119~619.B1 41,51
14,23 229~51L11 87.16
NSISIlRI
ILq~r~!" 5 For.at:
INVENTORY ADJUSTNEHTS
IN¥.GAIN/LOSS
TOTAL INVENTORY ADJUSTNENTS
TOTAL COST OF SALES
GR085 PROFIT
5OPREHE
UNLEADED
UNLEADED PLUS
SUDTOTAL HETERED PRODUCTS
LOTTO SALES
DELI SALES
OTHER HERCHAHDISE
CIGARETTES
OTHER SAEE8
CASH O/S
SUDTOTAL OTHER NERCHAHDIDE
TOTAL GROSS PROFIT
SHIPPEHSDURG HR D% 2
E,C, DARHES~ IHC,
Year To Date .....
.Si ,00' .11 .!1
,DO ,RD .Il .RI
76~118.97 84,23
271,44 7,81
1~878,78 3?,lB
3~D41,38 ?,48
2,11A,R2 21.91
6,363.46
l,~Rl,18 7.55
4~77.1D 18.92 11,511.N2 8.7~
665.11 5,OR 2s241.74
3~181.75 47,72 6,562.04 36,16
3,33%67 21.18 8,678.18 18.99
1,886.84 23,88 4,814.28 19.25
,00 ,NO .fl .NO
277.76 Iii. lO 273..
9,292.22 20.73 22,591.11 17.19
14,269.32 15.~7 34~111.33 12.94
Page:
OHIPPE#SSURG HR ~s 2
iOPERDTIN& EXPENSES
HAGEO
SUPPLIES AND TOOLS
EQUIPNENT'RENTAL
EOUIPNENT REPAIR
OUTSIOE SERVICE
PROPERTY REPRIRO
TANN/EN¥ INSP FEES
UTILITIES
STATION RENTAL
OEPRECIA~IOR
OANK/CREOIT CARD CHAR&ES
~A~ CHECKS
TELEPHONE
A~VERTISIN&
PAYROLL TAXES
EHPLOYEE BENEFITS
UNIFOR#S & LAUNDRY
INSURANOE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
OTHER IHCOHE
HONEY NARKET INTEREST
TOTAL OTHER INCOHE
,NET PROFIT
E,C,BARNESt INC,
-- N3-NI-BI to O3-31-Sl --
,l! .#,
7,5~8,13 B,32
311.23
, .e{ .Re
.99
247,79 ,27
,IN
,gO
1,57
73S,82 .SI
,90
,IO ,!1
48,14 ~S4
281.44
951.92 1,65
&S4.17 .}7
128, Ig .14
914,ll 1.17
,il ,16
,il ,11
14,657,15 l&.lO
,Il ,Il
,11 ,1t
(367,83) .41
21s44t,7&
I~SSI./I .1!
,!! .11
1s469.11 ,SS
1~23~3
,11 ,11
,11 ,11
3~774,~1 1,43
4~211,11
2~21~.4A ,84
~47,64 ,13
36.2P
1!A.78
422. i&
1 'Pm.$il .~6
47v501.57 18,02
.11 .#
S~LE~
O~LEMEU
OHLEA~E~ PLUS
SUNTOTAL HETESED PRODUCTS
LOTTOSALES
DELI SALES
LOTTERY COHHISSION
OTHER NERCHAHDISE
CIGARETTES
CITQO, RENATE
CIGTO REBATES
CASH,O/$
SUOTOTAL OTHER SALES
TOTAL SALES
COST OF SALES
SUPRENE
KEROSENE
UHLEADEO,
UHLEADEDPLUS
SUSTOTAL,HETERED PRODUCTS
LOTTO EXPENSE
DF. LI PURCHAOES
OTHER NECHANDISE
CIGARETTES
OTHER.SALES
DISCOUNTS
OUHTOTALOTHER HERCHARDIOE
TOTAL PURCHASER
E.C.DARHES~ INC, ~
-' 02-O1'DI to 02'20'D1 ....... ¥~r ~ ]~t! .....
3,2~1.29 . 3,72
29,651.61 Z4,44
6tOD2.74 7.9~
42~971,97 49,9~
686.18 ,79
15~467.7~ 17.96
8!452.84 9.82
2,~2 ,JO
2,?7%72 89,79
28~629,93 94,5~
6~337,5~ 93,16 I2~$12.95 9L6~
39~6~8,73 46,~2 79~I2~.54 45.73
3,366.71 68,96 8~8,42 71.~2'
13,4~7.39~%8~,87 24s~35.]8 62.87
7~655;68 ' 83,47 I$~916.29 92.61
3.60
3.96
~$~527.55 7.82
q5,613.46 49.56
~-~eport: 5 Fornlt:
INVENTORY ADJUSTHERTS
',~, lay, GRIN/LOSS
TOTAL INVEHTQRY AOJUSTNENTB
TOTAL, COST OF SALE5
. GROSS;~RQFIT
SURREHE
KEROSERE
UNLEADED PLUS
OUDTOTAL NETEREB PRODUCTS
LOTTO SALES
DELI SALES
~THER HERCHANDISE
CIGARETTE9
OTHER SALES, '
SUBTOTAL OTHER NERCHARDISE
TOTAL GROSS PROFIT
SHIP?ENSB~G HR B's 2
,, ~.,, ~ ~:~; { "I,~ il/,
?15.74 28.61 I~IOI. 12 10.54
338.61 15.21 i,O!&.i2 14.82
1,621.68 5.47 3~322.18 5.64
465.21 6.B4 {{4.RI 7.35
3e341.24 '7.78 6tS12.P2 7.61
}SS.lO 4.95 i~$76.{4
1,488.18 31.54 31461.2~ 2~.50
2,630.31 13.13 5,358.48 17.{3
1,~77.16 16.5~ 2,{27.44 17.39
.5~ .OB .Il .Il
2.32 IO0.OR (26.06) III.Il
ReprO:* '5 Fo~nat:
OPERATING EXPENSES
WAGEO~fl~NAGER
WAGES
SUPPLIESAN5 TOOLS
EOUIPNEHT RENTAL
EOUIPHEHT REPAIR
OUTSIRE~SER¥1CE
PROPERYY~,REPAIRS
TAHKIENY INSP FEES
UTILITIES
STATION RENTAL
DEPRECIATION
RANK/CREOIT CARD CHARGES
,, RAG CHECKS
~TELEPHONE
AOYERTI$IHQ
PAYROLL TAXES
EflPLOYEESEN£FITS,
UNIFORNS & LAUNDRY
INSURANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
~.oTHER INCONE
HONEY NARKET TNTEREST
TOTAL OTHER INCONE
.RET PROFIT
SHIPPEHSOURG HR
E,C,RARNES~ INC.
*- D2-D1-D1 to D2-2B-D1 -"
Anount
..... Year To IMte .....
8+~D1,79 9,87
~919,11 1.17
,SD
.66
449,57
66
,ID
l~4OD.RR 1.63
738,82 ,8~
177,87 .21
27,14
14~,72
683.61
594,17 ,&9
128,69 ,15
974.89 1.13
,.KO
715,73 ,83
16~597,R8 19,27
! .il .il
1§,911,73 9.21
I~569.48 .Ri
,, ,11 ,iR
1,4~,11
967,14 ,57
:'Ft .,il ,Il
'"
~47,&4
26B.#
'(7,657.77) 8,89
RUO 03 2001
04:43
9~233.6t 7,99 t2~,~l.g&~
DELI
.il ,9t .~g
41~ZB7.2~ Z?.11 5~.~,~6.4l
~£L!
TOTAL 5~G$5 ~g~,~;~T
- i2-l~-I! to ~2-ZJ-# --
.ii
~,375. t7
oll
~.t~ 5.2?
~7T8.82~
4,~54.&8 ~L41
~5,8{6.{i
?, 02
SMIPPENSIU~[ #8 ~! 2
LC.BAN#ES. INC.
,{I .96 8~127. G2
29d. 72 ,26 1,4~9.1{
281.44 .27 I~.~5 ,~
P, 03
$
Il/Il/Il
OPERATING EXPENSES
NA~ES
SUPPLIES ARa TOOLS
EQOIPHERT RENTAL
EQUIPREHT REPAIR
OUTSIBE SERVICE
PROPERTY REPAIRS
TANK/ENV IRSP FEES
UTILITIES
STATIOH REHT~I,
BEPRECIATIOH
BANK/CREDIT CARO CHARGES
OAO CHECKS
TELEPNORE
ADVERTISING
PAYROLL TAKES
ENPLOYEE SEREFITS
UHIFORMS & LA)JHORY
IRSURANCE
LICERSES
TAXES
TOTAL OPERATING EXPENSE
OTHER INCOHE
HONEY NARKET INTEREST
TOTAL OTHER INCOME
NtT PROFIT
SHIPPENSBURG HR O's
E.C.BARNES~ INC.
-- II-B1-BB to ll-)B-BB ....... Year To DO~e .....
Amount 'X A~U~)t;;~ %
B~838.64
95%29 .94
.BI ,BI
666,69 ,66
.OB .el
1,251.7B 1.23
738.82
.OR
44,23
158.62 .16
733.16
42~,?B
128,B~ .13
691,aB ,68
1).BO .~1
251.32 .25
16,~97.57 16.B4 189,978.77
.Il ,II
99,297,38 8.14
7~4B2,53
· IR ,II
8,1~27.12 ,67
L142.75
S63.66 .mu
7,611,
1,348.42 ,11
1'5.58
[HYEHTORY AOJUSTfiENTS
INV. ~AIK/LUSS
TOTAL IHVENTORY ADJUSTHEHTS
TOTAL COST OF SALES
GROSS PROFIT
KEROSENE
URLEADES
UNLEABE) PLUS
SUBTOTAL HETEREO PRODUCTS
LOTTO SALES
OELI SALES
OTHER HERCHANOISE
CIGARETTES
OTHER SALES
CASH
SUBTOTAL OTHER HEOCRAHOISE
TOTAL GROSS PROFIT
SHIRPENSRURG HR 8~s 2
E,C.SARNES~ INC.
. % -- 11-81-90 to 11-36-e6 --
Anount
.99
.96
897143.79 87.72
228.19 2.92
612.73 30.13
1,175.84
462.65 3.46
2,418.81 4.55
748.87 5.43
3,466.84 53.90
3e756.36 21,29
1~868.92 21.94
84.2? 199.99
10.057 88 20,75
12~476 69 12.28
.gl
.IR .19
657,421.43 86.79
3,565.3} 5.26
3,745,!1
26,911.~i
776.14 6.69
41,897.52 6.47
7,575.3?
41,3~}.75
51,?5~.8~ 2:].38
121,685.22 29.72
1&2~182.74
R~e~rt,' 5 Fernat~ ]
OPERATING EXPENSES
NAGES-NAHAGER
WAGES
SUPPLIES AND TOOLS
EQUIPMENT RENTAL
EOUIPNEMT REPAIR
OUTOIIE SERVICE
PROPERTY REPAIRO
TANK/ENV INSP FEES
UTILITIES
STATION RENTAt.
OEPRECIATION
OANK/CREOIT CARO CHARGES
OAO CHECKS
TELEPHONE
ADVERTISING
PAYROLL TAXES
EKPLOYEE SENEFITS
UNIFORNS & LAUNDRY
INSURANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
OTHER INCOME-
HONEY HARKET INTEREST
TOTAL OTHER INCOHE
N~T PROFIT
SHIPPENSBURG HR O~s 2
E,C.OARNES, INC,
"II'OI-R) tO ll')6'00 -'
----- Year
8:83B,~4 8,7~ ??~297.)S 8,14
POP,2? ,94 7~482.53
.~o ,om.
.,l .mm 8,4~.a .Tm
666,6g ,6& 6
1.23
738,82 .73 87127,~2 ,A7
,~) .~ 1~142.75
44. ~3 . ~4
158.62 .16 1,64q.1~1
1t.99 ,61 116,16
251.32 .25 1~]48,42
~6~297.57 I6,~4 ~89~978.77 ]5.58
.B6 .gg .g!
· GB .e6 .gO .96
(3,B26.88) ~,7&
~UP~EHE
SUbTOTaL ~£TE~E9 PRODUCTS
.ELI SALES
OTTERY COHMISS!ON
~ARETTES
:~TCO ~EB~TE
CIGTO REBATES
~SH
SUBTOTAL ~T~ER S~LEB
SALES
;T OF SALES
;UPREKE
,ERDSENE
)MLEADED
)HLEADED PLUS
SOBT(.II'AL M~-T.:R~D PRODUCTS
OITO EXPENSE
ELI PURCHASES
)THER HECHAND~SF
IGARET1ES
:ITHER SALES
![SCDUNT~
OTHER ~ERCHANDISE
T()TAL PURC~IASES
SH1PPENSBURG I~R 8~s 2
E.C,BARNE~ IMC.
1.51
55,115.~4 51.1~
IZ.69l.)B 12.69 12B,346.)1 11.4~
1~255.72 9.51 B4,~78.17
91A.~B .B5 6,5~2.35
1e.276.82, 9.53 115,292,34
(1,A3d. B9) 1.33 (21349.75)
§2,748.~B 4B.9~ 535,~91.58 47,~4
........................................
17,B41.B4 98.16 53,714.17 94,17
1~275.87 79,42 B~7~9,48
13,45B.~ ~B,~B 128,111,
6,796,68 64.27 46,21B.{6
8,817.55 HS.GB ?4,?7],BB B2.37
45!292.54 41.9~ 3B.~t
424,~44.24
74:881.17 89,82 ?48,:77.33 86.41
';~R¥ ADJUST~EYTS
~Ai~/LOSS
IAL !NYENTOR¥ ADJUSTMENTS
!OTAL COST OF SALES
PROFIT
~EME
i~IOTAL METERED F'RODUC1S
!0 SALES
SALES
'~ ~ERCHA~ISE
,~ETTES
,!~ SALES
OTHER
lOYAL ~R§SS PROF'[I
~6~B01.17 8~,82 7&B{277,3) 8&.61
2,2fl5,1! 16.49 24~B35.Z7 6.16
58&,29 4,15 7~373,?~
3,§2~.71 6,4~ 38,678,71
(1~4~6,8~) i5~,66 (2~)47,75) lgg.g6
14.14 I11,B27.34 2~,71
!~LIES ~ND TOOLS
TPHENT REHTAL
iPNENT REPAIR
ii~E SERVICE
ERTY REPAIRS
~/E!iV IHSP FEES
iiiES
~/C~EOIT CARD CHARGES
CHECKS
?HONE
'BLL 'FAXES
dFORMS ~ LAUNDRY
~OTAL OPE~AIIW~ EXPENSE
iIAL OTI(ER Ii'COME
T PROF!T
P~ge:
E.C.)ARNES, INC.
,ii. .BI
%856 99 9.14
474.17 .44
429,46 .46
1~268.7~ 1.18 ~4,5as. e8
7~8.B2 .68 7,388.2~ .~66
.H ,H 563.66 .'1~: :~ '
772.78 .72
425.9J ,37 4~547,73 ,41
1~81~,18 15,58 173i~81,~
(5,827.43) 5.41 (23,775.15) 2.14
t~/Sllll,
~lltort~ ~ Fornit~
SALES
UUPREUE
KEROSENE
UNLEAOEI
UNLEASEI PLUS
SUBTOTAL NETEREO PRODUCTS
LOTTO SALE~
OEI! SALES
LOTTERY COUHISSTOH
OTHER UERCHANDISE
C!GARETTES
CITGO RESATE
CIGTO REBATES
CASH 0/5 o
SUBTOTAL OTHER SALES
TOTAL BALES
COST OF SALES
SUPREHE
KEROSENE
UNLEAIED
UNLEADED PLUS
SUOTOTAL HETEREO PROOUCTS
LOTTO EXPENSE
OEL! PURCHASES
OTHER HECHAH~ISE
CIGARETTES
OTHER SALES
P!SCOUNTS
SUSTOTAb OTHER NERCHANSTSE
TOTAL PURCHASES
SHIPPENSSURG HR B~s 2
E.C, SARRES?
-- l?-ll-II to 19-]1-11 ~-
3~488,~6 3.IS
682.~7 ,6!
43~373,,76
976~7,87
$7~142.~a 51,21
7~675.6§ 6,88
627,17
2S~776,S8 18,62
,St .US
,IS ,OS
(371,99) .3~
54~439,5S 48.79
111,582.16 ISa. O!
Pase~
5~a77,97
184~624.8~ IS,~J
3~17S.2~ 77.15
451.81
41~139,34 74,8B
9~lA~,77 93.67
48.2~
B~624.96 77;35
,lB ,61
.BO
41 663,12 36,8S
94~876,36 85,63
B~ll?.64 ~2,61
48.68
37f~a71,7! 77.59
871~39&,16 86.27
INVENTORY AOJUSTNENTS
INV, GAIN/LOSS
TOTAL IRYEMTORY ADJUSTMENTS
TOTAL COST OF SALES
~ROSS PROFIT
SUPRENE
~ERUSENE
UNLEADED PLUS
SUBTOTAL HETEREB PRODUCTS
LOTTO SALES
DELI SALES,
OTHER NERCHANDTSE
CIQARETTES
OTHER SALES
CASH O/S
SURTDTAL OTHER NERCHANDISE
TOTAL &ROSS PROFIT
SHIPPENSBURC HR S's ~
E.C. BARNE$, INC.
. % -- S~-Sl-I! to D~-BS-O! --
,DS
,,DB
..... Year To h:f! .....
,Il .Il
,11
86.27
J
233.46 6.85 3,g17.6~ 7.57
2q254.42 5,2S 22t~l,!6 ~,86
3,329.48 S.83 3§~132. fl 6.67
627.~7 4.2? 5~677.Y4 4,95
3,?66.79 56.82 34~410.79 46.60
6~715.38 32.32 45~18J,34 24°47
2~525.g3 22,65 ~8~861,6~ }7.96
.SS ,SO 363.0!
13.376 38 24.57 tSB,57J.36 2I.A3
~6~7B~ 86 IA,97 1B~,723,36 13,73
Pl~el
2
.1~/]1/11
SHIPPENSNURG HR S% 2
'8~ps~t~ ~ Foreat: J
OPERATINg EXPENSES
WAQES-NANAGER
WAGES
SUPPLIES ANI TOOLS
EQUIPNENT RENTAL
EOUIPNENT REPAIR
OUTSIUE SERVICE
PROPERTY REPAIRS
TAHK/EN¥ ENSP FEES
UTILITIES
STATION RENTAL
UEPRECIATION
SANK/CREDIT CARl CHARGES
SAS CHECKS
TELEPHONE
ADVERTISING
PAYROLl TAXES
EHPLOYEE BENEFITS
UNIFOHNS & LAUNDRY
INSURANCE
LICENSES
TAXES
TOTAL OPERATING EXPENSE
OTHER IHCOHE
HONEY HARKET INTEREST
TOTAL OTHER INCONE
NET PROFIT
E.C. IARNES~ THC,
-- l?-II-SI to 19-31-IR --
,88 .IS
9,46i. J2 8.46
615f?l .55
.Il
847,23 ,78
782,17
,18 ,Il
.il .81
2~116,25
1,4g1.66 1,25
738.82
89,86
72,59 .l?
(~1,31)
365.34 .27
S29.SS ,74
485,90 ,44
128,69
691.18
,Ii
18~78L13 16.84
.... Year To
,11 ,11
8S,611.75 7'.t8
,~
8,87~.{~ .Il
1,i42.7~
.4t
1§~871.82 E5,§3
.SO .SS .8! .88
.SO .SI .81 .!1
.................
(2,{8L2~) h86 (le, H?;~2;)'~
Page,
Report: 5 Format; !
SALES
SUPREME
KEROSENE
UNLEAOEB
UNLEABED PLUS
SOBTOTAP NETEREO PROOUCTS
LOTTO SALES
DEl.! dALES
LOTTERY CONNISSIOH
OTHER HERCHANOIRE
CIGARETTES
CITGO REOATE
CIGTO REBATER
CASH
SUBTOTAL OTHER dALES
TOTAL dALES
COST OF SALES
SUPREHE
KEROSENE
UNLEAOEO
UHLEADEB PLUS
SUOTOTAL HETEREO PRODHCTS
LOTTO EXPENSE
9ELI PURCHASES
OTHER HECHANOISE
CIGARETTES
OTHER SALES
DISCOUNTS '
SUDTOTAL OTHER HF, RCHANS[SE
TOTAL PURCHASES
SHIPPEHSBURG HR O's 2
Page=
E,C,BARNES~ INC,
-- IS-Il-OS to IO-$1-IO --
5,201.18 4.72 .
57,5S7.91 52.1~ 467,7~$.8& ~2.28
7,656.24 6.94 66,14~8) 7.3~
557.19 .51 5,15~.8~ ,5~
19~77e.54 g,76 93~
(1.97) ,gO
52~863.29 47,87 429~!~,56 47.72
4,796.s~
~77.64 48.12 437~H!.26 48,74
11~457.50
4,807.46
161111.88
6~436.74
4S~813.52
93.098,56
!OB.OB 100~047.~'3 ~ll.ll
62.79 35,~4~.80
78.3) 77,531.27
,SO
.se
)38,sms.s8 37.68
776,519.86 86.42
~port: ~ For~mt:
INVENTORY ADJUSTNENTU
INV, GAIN/LOSS
TOTAL INVENTORY AOJUOTNENTS
TOTAL COST OF SALES
GROSS PROFIT
SUPREME
KEROSENE
UNLEADED
UNLFAOED PLUS
SUSTOTAL RETERED PRODUCTS
LOTTO SALES
DELI SALES
OTHER NERCHANOISE
CIGARETTES
OTHER SALES
CASH
SUBTOTAl. OTHER HERCHAHOISE
TOTAL ~ROOS PROFIT
SHIPPEHSBURG NR R~s 2
E.C. OARHEO~ INC.
-o 08-81-OB to
Amount
.OO .ii
.NO .OI
9]~890.56 85,1'I 77&,e)~?.86 86.42
4J4,&8 7.78
41.18 29.87
3,127,22 7,38
B58.7~ 8,74
4,431.87 7.71
$,94
7.51
6.7?
2,333,8~ 22.67
16~42U.55 14.89 122,017.44 1{.58
Pige:
OPERATINg EXPENSES
IA~ES-MA#ABER
HANES
SUPPLIES AHO TOOLS
EOU1PHEHT REHTAL
EQUIPMENT REPAIR
OUTSIBE SERVICE
PROPERTY REPAIRS
TAMK/EHV INSP FEES
UTILITIES
STATION RENTAL·
DEPRECIATION
RANK/CREOIT CARS CHARGEO
OA~ CHECKS
TELEPHONE
ADVERTISING
PAYROLL TAXES
ENPLOYEE BENEFITS
UHIFURHS & LAURORY
IHSURAUCE
LICENSE9
TAXES
TOTAL OPERATING EXPENSE
UTHER INCOME
HONEY NARKET INTEREST
TOTAL OTHER INCONE
SHIPPENS~URC HR B~s 2
E.C, BARNES, INC.
'- BB-BI-4B tO 08-31-44 ....... Yemr To late .....
A~ou~t X
.. .4o
1,115.77 1.RI 5,4)$.~
17~[27 ,16
25.44 .42' 4~9~J.14 .55
,oo .me 125,5~ .It
i,~O4. B4 1.27 llr~J~ 1.25
I78,69 .17 1, ;12
944.72 .86 6s
485.94 .44
164.94 .15
.96
251.32
17,592.~? 15.87 138,884.8~ !~$o37
,88 .ON ,)i ;il
NET PROFIT
(1,B82.14) .98
121311?9
SALES
SUPRENE
kEROSEHE
SUBTOTAL ~EIERED P~O~eCI8
LOTTO SALES
OELI SALES
LOTTERY CONHISSION
OTHER HERCHAHHSE
CIGARETTES
CITGO REBATE
CIGTO RE~ATES
C~SN
SUBIOTAC OTHER SALES
TOTAl SALES
COST OF SALES
SUPREHE
KEROSENE
U~LEA~ED
U~LEADED PLUS
SUBTOTAL HETERED PRODUCTS
LOTTD EXPENSE
bELl PURCHASES '
ClCARETTES
OTHER SALES
~HSCOUNT8
SUBTOTAL OTHER HERCHANDISE
TOTAL PURCHASES
SNIPPENS)UNG ~N ~'s 2
E'.C.~ARNES, IRC.
-- 12-81-99 to 12-tl-99 -- - .... Year
. ~ A~ou~t X
5,1~4.87 4.68 73,733.22 5.77
45,728.7~ ~6. Z7 424,488~9 33.23
II, liD.OD 12.86 141,721.58 'll.8D
7,7~8.96 6.16 1~5,758.8D 8.28
8;B,ID .64 8,227.28 .64
28,9~5.D9 16.65 257~1~4.52 28.28
12',956.98 18.~1 I]3,555.14 . 19.45
.DO .OD .Ii :
.Da ,9B .86 .81
134.77 .11 (248.85)
58,745.88 46.73 'MO,156.4'D 56.74
125,71S.78 IDB,OD 1,t~7~4D].{9 IBB,BD
4~71L24 91.73
2,631.74 68.29
4~,296.62 DA.TO
1,I,9D~.99 ~2.71
62,5)9,59 49.75
1A,162.g{ 198.9~
5,572.27 71.91
17,493.57 8~.56
1~,496.~3 88.27
.DB
67,121.69 {l. D3
6,36{.O3 45,61
581,729.5~ 45.54
142~212.58 iR8.15
57, i54.77 '53.75
198~168.62 '7&.47
184~729.94 78.42
.89 .81
78.&I .II
H2~166.78
39.48 5i2,244.52 39.31
8%22 1,683,965.68 '84.8~
· :,':~/?~ SHEPPEHSRUR~ KR D~s 2 Pige: 2
INVENTORY ADJUSTHENTS
I~V. GA.IN/lOSS
TOTAL INYENTO~Y AOJUSTHEHTS
TOTAL COST OF SALES
GROSS PROFIT
SUPREHE
~L~OED
U~LEADED PLUS
SUDTOTAL ~ETEREO PRODUCTS
LOTTO SALES
DELI SALES
OTHER HERCHAHO]SE
CIGARETTES
OTHER SALES
CASH DIS
SODTOTAL OTHER ~ERCHRHO1SE
TOTAL G~OSS PROFIT
E.C.DARNES, IHC.
-- 12-A1-~9 to 12-31-99 ....... Yeer To Date .....
. ~ A~ount % A~o~t %
69,22 1,~83,76~,D8 B4.B5
t24.63 8,27 6,611:5~ B.f7
646,21 19.71 7~17~,N~ 5~,DR
2,424.D9 5.31 23~937.5! 5.64
4~I~1.11 6.62 47~616.B5 7.57
2,176.67 28.97' 48~791,1~'
3~442,9D 16,44 6l~fOS.OB'
,556. 5 28,
134.77 1DO.SA (24g~8~) IDB,E!
~f117.61 15,52 145,~9D.57 22.52
1~5~B.72 10.78 ]9~528.61 15.15
SHIPPEHSUURG UN ~'~ 2
OPERATING EXPENSES
WAgES-MANAGER'
WAGES
SUPPLIES AND TOOLS
. EOUIP~ENT RENTAL
EQUIPMENT REPAIR
OUTSIDE SERVICE
PROPERTY REPAIRS
TANK/ENV INSP FEES
UTILITIES
STATION RENTAL
DEPRECIATION
RANK/CREDIT CAHD CHARGES
BAD CHECKS
TELEPHONE
ADVERTISING
PAYROLL TAXES
EUPLOYEE SENEFITS
UNIFORMS ~ LAUNbQY
INSURANCE
L1CEHSES
TAXES
TOTAL OPERATING EXPENSE
OTHER INCOHE
HONEY MARKET INTEREST
TOTAL OTHER INCOME
HET PROFIT
E,C,OARNES~ INC,
.DO .MD 9d2g.27 .71
~.585.~4 7.62 1H,52~.12 7.95
915.55 .73 7,627, i8
.eH ,ek 8.48 .e!
.66 .os ~,8B2,8~. .~l
.OS .MR '41.4g'
,SO .US 2SD.M9 .B2
i~?S4,Ri 1.52 18~S16. i3
1~4~9.9Q 1,1! 16,BOQ. H 1.~2
738,92 .57 8, RA$.84 .6~
5.68 .bb (177.4~)
195,38 .99 583,~
15~,22 .12 2,~l].&l .18
l~SgB.46 ,89 1g~S51.84 .8~
519, MM .41
129.8U .IM 1,54H.86 *.12
~?1,Bg .55 ' B,272.96 .65
,em '.ge TO. pp. ,g~
251,52 .21 1,8~7;1T~;'' .Il
17s?72.4B 14.~b 294,615,45 J~,12
.OS ,OS .68
,BO .66 .S!
(4,423.76) 3,52 (11~687,44)' .87
· ~,3 YEAR TOTAL & AVERAG ES
1999 2000 2001 AVG 99 AVG 00 AVG 01
Sales YTD Aug
Gas 629,336 690,938 385,631 52,445 57,578 48,204
Grocery 498,208 465,583 256,784 41,517 38,799 32,098
Lottary Comm. 8,227 8,174 5,973 686 681 747
Cost of Goods
Gas 581,720 644,127 348,888 48,477 53,677 43,611
Grocery 360,032 347,093 200,727 30,003 28,9'24 25,091
Grocery Gross% 38% 34% 28%
Gross Profit
Grocery 138,176 118,490 56,057 11,515 9,874 7,007
Gas 47,616 46,811 36,743 3,968 3,901 4,593
Total 185,792 165,301 92,800 15,483 13,775 11,600
Expenses
Payroll
Manager 9,129 761
Others 101,585 106,256 60,311 8,465 8,855 7,539
Benefits 6,502 5,401 4,717 542 450 590
Insurance 4,692 4,992 5,392 391 416 674
Payroll Taxes 10,551 9,788 5,864 879 816 733
132,459 126,437 76,284 11,038 10,536 9,536
Supplies & Tool 7,627 8,101 4,873 636 675 609
Equip. Rent
Equip. Repair 3,802 8,525 2,234 317 710 279
Outside Services 5,387 7,261 5,807 449 605 726
Property Repair 41 125 613 3 10 77
Tank Fee 250 330 1,389 21 28 174
Utilities 18,016 17,220 10,721 1,501 1,435 1,340
Bank Charges 1,677 1,459 1,654 140 122 207
Bad Check 197 399 200 16 33 25
Telephone 583 49 251 49 4 31
Advertising 2,303 1,929 1,260 192 161 158
Insurance 3,600 3,600 2,400 300 300 300
Uniform 1,548 1,626 1,120 129 136 140
License 70 110 85 6 9 11
Taxes 1,827 1,599 1,447 152 133 181
Total Expense 179,387 178,770 110,338 14,949 14,898 13,792
Net Profit 6,405 (13,469 /17,538) 534 (1,122) (2,192)
HASMUKH PATEL, d/b/a ONE STOP
CONVENIENCE STORE,
Plaintiff
v.
ARTHUR BRUAW, JR.,
Defendant
IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL ACTION - LAW
No. 02-3081 Civil Term
DEFENDANT'S ANSWER
WITH NEW MATTER AND COUNTERCLAIM
NOW COMES defendant, Arthur G. Bruaw, Jr., by his counsel,
Keefer Wood Allen & Rahal, LLP, to file his answer with new
matter and counterclaim in response to plaintiff's complaint,
averring as follows:
1. Admitted.
2. Admitted with clarification. The address given is
defendant's business address.
3. Admitted in part and denied in part. Defendant denies
that mall matters relevant and pertinent hereto relate and refer
to an asset purchase agreement," as this statement is nonsensical
at worst and inaccurate at best. For instance, in addition to
the asset purchase agreement attached to plaintiff's complaint as
exhibit A, a second writing was signed by plaintiff on
September 19, a copy of which is attached as exhibit A to this
pleading.
documents provided to plaintiff by defendant are accurate
reflections of the operation of the store location in question
while defendant owned it.
WHEREFORE, defendant respectfully requests this Honorable
Court to dismiss plaintiff's complaint and to enter judgment in
his favor and against plaintiff, together with costs of suit.
22. Plaintiff is, by his own admission, experienced in the
operation of convenience store locations.
23. Plaintiff was aware that defendant had lost money at
the store location in question for at least two years prior to
plaintiff's purchase of it.
24. Plaintiff desired to purchase the store location in
question because of its location and the potential for improving
its revenues under his management.
25. Plaintiff's alleged reliance on financial records and
documents provided by defendant is overstated, at best, and is
completely disingenuous, at worst.
26. Plaintiff planned to operate the store location himself
and had years of experience in operating convenience stores to
support his decision to purchase this particular store location.
- 6
27. Plaintiff was offered sound advice by defendant and
defendant's sales manager, Ray Miller. Specifically, he was told
that he should reduce expenses by reducing his payroll, but he
should reduce his payroll gradually by discharging experienced
employees only after he had become familiar with the customer
base for that store location.
28. To the extent that plaintiff has experienced weak
revenues from the store location, which defendant denies for lack
of sufficient knowledge or information, plaintiff erred by
discharging experienced employees too early and before he had
become familiar with the customer base of that store location.
29. Seller has fully and adequately honored the
representations and warranties set forth at paragraph 8 in the
asset purchase agreement attached to the plaintiff's complaint as
exhibit A.
WHEREFORE, defendant respectfully requests this Honorable
Court to dismiss plaintiff's complaint and to enter judgment in
his favor and against plaintiff, together with costs of suit.
COUNTERCLAIM
30. A portion of plaintiff's purchase obligations to
defendant arises from a separate inventory purchase agreement
entered into by the parties on September 19, 2001.
- 7 -
31. A true and correct copy of that agreement is attached
to this pleading as exhibit A.
32. Predated checks totalling $40,000 were provided to
defendant by plaintiff at the time of settlement in November
2001.
33. Several of those checks have been deposited and have
cleared plaintiff's bank; however, the checks dated for July 1,
2002, and for August 1, 2002, have not been honored by the bank
because of stop payment orders placed against them by plaintiff.
34. Thus, plaintiff has failed to pay defendant the sum of
$6,666.66 for the months of July and August 2002, which payments
are now due and owing.
35. Furthermore, defendant believes and therefore avers
that plaintiff intends to issue stop payment orders against the
payments due on September 1, October 1, November 1, and
December 1, 2002 (all in the amount of $3,333.33, with the
exception of the final one, for which the amount is $3,333.37).
36. If all checks for July through December 2002 are
dishonored by plaintiff's bank, plaintiff will have failed to pay
defendant the sum of $20,000.02.
37. Plaintiff, as stated above, has no basis in law or fact
for his failure to allow the checks to be honored by his bank as
deposited.
38. The inventory sold to him by defendant at the store
location in question has been used by him in the operation of his
business without complaint.
39. Therefore, defendant is owed $6,666.66 as of this date
and faces a total loss of $20,000.02 if plaintiff similarly
dishonors the remaining checks due September through December
2002.
WHEREFORE, defendant respectfully requests this Honorable
Court to enter judgment in his favor and against plaintiff in the
amount of $20,000.02 together with interest and costs of suit.
Dated:
August 13, 2002
Respectfully submitted,
KEEFER WOOD ALLEN &~, LLP
By. ~
Charles W. Rubendall II
I.D. # 23172
Donald M. Lewis III
I.D. # 58510
210 Walnut Street
P. O. Box 11963
Harrisburg, PA 17108-1963
717-255-8010 and 255-8038
Attorneys for defendant
VERIFICATION
The undersigned, Arthur G. Bruaw, Jr., hereby verifies and
states that:
1. He is defendant herein;
2. The facts set forth in the foregoing answer with new
matter and counterclaim are true and correct to the best of his
knowledge, information, and belief; and
3. He is aware that false statements herein are made
subject to the penalties of 18 Pa.C.S. Sec. 4904, relating to
unsworn falsification to authorities.
Arthur G. Bruaw, Jr.
Dated: August /3, 2002
AGREEMENT
In reference to the Inventory Purchase Agreement dated 19t~ September
2001 and Sale and Purchase of Convenience Store and Gas Station Business
Property located at 702 E. King Street, Shippensburg, Pennsylvania 17252,
Buyer Hasmulch Patel or its assignee One Stop pays $40,Q00 by l~ost dated
checks as follows.
Check Dated Amount
1 January 1, 2002 $3,333.33
2 February 1, 2002 $3,333.33
3. March 1, 2002 $3,333.33
4. April 1, 2002 $3,333.33
5. May 1, 2002 $3,333.33
6. June 1, 2002 $3,333.33
7. July 1, 2002 $3,333.33
8. August 1, 2002 $3,333.33
9. September 1, 2002 $3,333.33
10. October 1, 2002 $3,333.33
I 1. November 1,2002 $3,333.33
12. December 1, 2002 $3,333.37
TOTAL $40,000.00
Seller, Mr. Arthur G. Bruaw Jr. agrees to deposit each check on or after the
date thereof. Inventory amount over $40,000.00 will be paid in cash upon
the Buyer taking possession of the convenience store & gas stat/on.
SELLER
SHERIFF'S RETURN - OUT OF COUNTY
CASE NO: 2002-03081 P
COMMONWEALTH OF PENNSYLVANIA:
COUNTY OF CI/MBERLTkND
PATEL HASMUKH DBA ONE STOP CON
VS
BRUAW ARTHUR JR
R. Thomas Kline
duly sworn according to law,
and inquiry for the within named DEFENDANT to wit:
BRUAW ARTHUR JR
but was unable to locate Him in his bailiwick.
deputized the sheriff of FR3kNKLIN County,
serve the within COMPLAINT & NOTICE
· Sheriff or Deputy Sheriff who being
says, that he made a diligent search and
He therefore
Pennsylvania,
to
On July
26th , 2002 this office was in receipt of the
attached return from FPJkNKLIN
Sheriff's Costs:
Docketing 18.00
Out of County 9.00
Surcharge 10.00
Dep Franklin Co 36.64
.00
73.64
07/26/2002
ONE STOP
Sofanswe~{~. ....
R./ Thomas Kline
Sheriff of Cumberland County
Sworn and subscribed to before me
this 2~ day of ~
~L(r~ ~ A.D.
Prothonotar~
SHERIFF'S RETURN - REGULAR
CASE NO: 2002-00095 T
COMMONWEALTH OF PENNSYLVANIA:
COUNTY OF FRANKLIN
HASMUKH PATEL ET AL
VS
ARTHUR BRUAW JR.
LORI HARDSOCK , Deputy Sheriff of FRAIqKLIN
County, Pennsylvania, who being duly sworn according to law,
says, the within COMPLAINT was served upon
ARTHUR BRUAW, JR.
the
DEFENDANT
at FCSO
at 0014:45 Hour, on the llth day of July
157 LINCOLN WAY EAST
, 2002
CHAMBERSBURG, PA 17201
ARTHUR BRUAW JR.
a true and attested copy of
COMPLAINT
by handing to
together with
and at the same time directing His attention to the contents thereof.
Sheriff's Costs: So A//swers:
Docketing 9.00
Service 9.00 LORI HARDSOCK
Affidavit 4.00
Surcharge 10.00 By
Mileage 4.64
36.64
Sworn and Subscribed to before
me thi~ I 1 day of
Deputy Sheriff
07/17/2002
CUMBERLAND COUNTY SHERIFF
Notarial Seal
Patricia A. Strine. Notary Public
_Chambersburg F~-,. ~ranklin County
IV~ CommissioR E),r,l,~$ NOV. 4, 209~-
In The Court of Common Pleas of Cumberland County, Pennsylvania
Hasmukh Patel d/b/a One Stop Convenience Store
VS.
Arthur Bruaw Jr.
SERVE: sane 02 3081 civil
Now, July 2, 2002 , I, SHERIFF OF CUMBERLAND COUNTY, PA, do
hereby deputize the Sheriff of Franklin County to execute this Writ, this
deputation being made at the request and risk of the Plaintiff.
Sheriff of Cumberland County, PA
Affidavit of Service
Now, ., 20 , at o'clock M. served the
within
upon
by handing to
a
and made known to
copy of the original
So answers,
the contents thereof.
Sworn and subscribed before
me this day of ,20
Sheriffof County, PA
COSTS
SERVICE
MILEAGE
AFFIDAVIT
CERTIFICATE OF SERVICm
I, Charles W. Rubendall II, Esquire, one of the attorneys
for defendant, hereby certify that I have served the foregoing
paper upon plaintiff this date by depositing a true and correct
copy of the same in the United States mail, first-class postage
prepaid, addressed as follows:
Mr. Hasmukh C. Patel
One Stop Convenience Store
702 East King Street
Shippensburg, PA 17257
KEEFER WOOD ALLEN & RA_HAL, LLP
Charles W. Rubendall II
Dated: August 13, 2002
HASMUKH PATEL,
d/b/a ONE STOP : IN THE COURT OF COMMON PLEAS
· CUMBERLAND COUNTY, PENNSYLVANIA
CONVENIENCE STORE :
Plaintiff :
: CIVIL ACTION LAW
ARTHUR BRUAW, JR.,
: NO. 02-3081 CIV/L TERM
:
Defendant : JURY TRIAL DEMANDED
PLAINTIFF,S REPLy TO THE DEFENDANT,S
NEW MATTER AND COUNTERCLAIM
AND NOW COMES the Plaintiff, Hasmukh Patel, d/b/a as One Stop
convenience store, Pro Se, and avers the following facts in support of his Reply
to the Defendant's New Matter and Counterclaim:
Paragraphs 1 through 21 require not reply.
REPLY TO NEW .MATTEh
22. Admitted.
23. Admitted with clarification. The financial records provided to the
Plaintiff showed a loss in ~ revenue. However, those financial records also
reflected an increase in gE_q~ revenues during the same time period.
24. Admitted in part; denied in parL Plaintiff admits that he purchased
the One Stop because he believed that on-site (as opposed to Defendant's
absentee) management would improve revenues. Plaintiff denies having
personal knowledge of the location's Potential to generate revenues. His
information regarding the location's potential was derived from representations
made in financials documents and records submitted to him by the Defendant.
25. Denied. In his New Matter acknowledges Plaintiffs experience
operating convenience store locations. As set forth in Paragraph 15 of the
Complaint, "In the usual and general course of negotiating such sale/purchase
transactions, it is a customary business practice for the financial records and
documents presented/provided by the seller to the purchaser to be true and
correct and not distort or misrepresent the business' performance. It is unfair
and improper to present/provide doctored documents." Thus, Plaintiff had
every right to rely upon the internal integrity of the financial records and
documents presented/provided to him by the Defendant. Plaintiff's reliance is
actual and not merely alleged. Furthermore, Plaintiff, s reliance is not overstated.
Lastly, it is disingenuous for the Defendant to allege that the Plaintiff should not
have relied upon the financial records and documents presented/provided to
him by the DefendanL
26. Admitted. Plaintiff has years of experience operating convenience
stores. Since his purchase Plaintiff has personally operated the store location
himself. As a direct result of that personal operation, Plaintiff has personal
knowledge that the store location's Performance (generation of gross revenues)
is inconsistent (to Plaintiff's detriment) with the financial information submitted
to the Plaintiff by the Defendant. Such inconsistency renders the Defendant, s
financial records and documents suspect.
27. Denied. As an experienced convenience store operator, Plaintiff
knows the value of "sound advice." He received no such advice from Ray
Miller. Additionally, this Paragraph is self-serving hearsay.
28. Denied. Plaintiff has not used the term "weak" revenues. The form of
this Paragraph by implication acknowledges that Plaintiff should have
terminated some employees. The parties differ as to whether such discharge was
oo early' or timely.
29. Denied. The basis of the Plaintiffs Complaint is that the Defendant
presented/provided the Plaintiff with financial records and documents which
were not an accurate reflection of the store location's actually generated gross
revenues, based upon Plaintiffs prior experience operation convenience and
upon his experiencing the store location.
WHEREFORE, the Plaintiff respectfully requests this Honorable Court to
dismiss the Defendant's New Matter and to enter judgment in his favor and
against the Defendant, together with costs of suiL
PLAINTIFF'S REPLY TO DEFENDANT'S COUNTERCLAIM
30. Admitted.
31. Admitted.
32. Admitted.
33. Admitted.
34. Admitted.
35. Admitted.
36. Admitted.
37. Denied. Plaintiff has sound basis in law and fact for his failure to
allow the checks to be honored at th/s bank at this t/me. Some of the inventory
was stale, outdated, expired, and not of saleable quality. The Plaintiff showed
such inventory to the Defendant personally.
38. Denied. Lots of the subject inventory has not been sold or used in the
operation of the business. The Defendant is well aware of this lack of sale or
use. See Paragraph 37 above.
39. Denied. It is the Plaintiff who has already suffered a loss by receiving
inventory that is stale, outdated, expired and not of saleable quality.
WHEREFORE, the Plaintiff, Hasmukh Patel, respectfully requests that on
the Defendant's Counterclaim, this Honorable Court enter judgment in his favor
and against the Defendant, Arthur Bruaw, Jr., for a monetary amount of pre and
post judgment interest, as allowed by law, plus costs and expenses of litigation
and such other relief as this Honorable Court deems appropriate and reasonable
and law and equity permit or direct; the monetary amount sought by the
Plaintiff as judgment exceeds the local jurisdictional amount for referral of cases
to compulsory arbitration.
Date
Respectfully submitted,
Hasmukh Patel, Pro Se, Plaintiff
702 East King Street
Shippensburg, Pennsylvania 17257
VERIFICATION
I, HASMUKH PATEL, Plaintiff in the above-captioned action, verify that
the averments made in the foregoing Plaintiff's Reply to the Defendant's New
Matter and Counterclaim are true and correct to the best of my knowledge,
information and belief. I understand that any false statements herein are made
subject to the penalties of 18 Pa. C.S. §4904, related to unsworn falsification to
authorities.
Date
-~-~S~L, Plaintiff
HASMUKH PATEL, d/b/a ONE STOP
CONVENIENCE STORE,
Plaintiff
V.
ARTHUR BRUAW, JR.,
Defendant
IN THE COURT OF COMMON PLEAS OF
CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL ACTION - LAW
Nc,. 02-3081 Civil Term
JOINT PRAECIPE TO SETTLE,
DISCONTINUE AND END, WITH PREJUDICE
TO: Curt Long, Prothonotary
Please mark the docket for this action to show that it has
been settled, discontinued, and ended, with prejudice, both as to
plaintiff's claim against defendant and defendant's counterclaim
against plaintiff.
Respectfully submitted,
Hasm~
Plaintiff Pro Se
315 East Main Street
Hummelstown, PA 17036
Dated: November/~, 2002
Respectfully submitted,
KEEFER WOOD ALLEN & RAHAL, LLP
Charles W. Rubendall II
Attorney for defendant
210 Walnut Street
P. O. Box 11963
Harrisburg, PA 17108-1963
717-255-8010
Dated: November ~-, 2002