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2 <br /> <br />Local Licensing Authority <br />Meeting Date: May 15, 2000 <br /> <br />and assigned all property rights to Holly & Mike's Ribs, Inc. <br /> <br />Chairperson Myers requested that Authority members be permitted to ask questions of the applicant <br />and counsel concurrent with the presentation. Attorney Moore stated he would address any questions <br />by members as they arose. <br /> <br />Chairperson Myers stated that the Authority had requested a copy of the Asset Purchase Agreement <br />and Exhibits listed in the Bill of Sale from the applicant, Holly & Mike's Ribs, Inc., but that these <br />documents had never been provided. Attorney Moore stated that he had a copy of the Agreement and <br />provided this to the Authority members. There was a brief pause as members reviewed the Asset <br />Purchase Agreement document. <br /> <br />Chairperson Myers stated that Section 1.3 of the Agreement, titled Purchased Assets, states that "all <br />assets described under Section 1.1 shall be hereinafter referred to as the "Purchased Assets"." He <br />continued that Section 1.1 (b) reads that "all right, title and interest of Seller in or under all contracts, <br />agreements, instruments, certificates, permits and licenses set forth on the Schedule of Contracts <br />attached hereto as Exhibit B and made a part hereof by reference (collectively the "Contracts") are <br />Purchased Assets." <br /> <br />Myers asked if the applicant or counsel for the applicant could provide a copy of Exhibit B to the <br />Authority for review. Attorney Moore stated that while the request for this information was <br />reasonable, his office never received this information from the counsel who performed the closing on <br />the business purchase. <br /> <br />Attorney Moore stated that, based on information from his client, Holly & Mike's Ribs, Inc., the <br />attachments included a statement of inventory equipment, promisary note, and copy of the liquor <br />license. Chairperson Myers asked if the applicants had copies of the exhibits referenced by the Asset <br />Purchase Agreement. <br /> <br />Attorney Moore requested that applicant Michael G. Davis be sworn in and permitted to offer <br />testimony to the Local Licensing Authority concerning the attachments. Authority Attorney Kelly <br />stated that the current proceeding was not a hearing, so Mr. Davis would not need to be sworn. <br />However, since the burden of proof to provide substantial, competent evidence of consent is on the <br />applicant, Ms. Kelly stated that Mr. Davis was welcome to address the Authority with any pertinent <br />information concerning the transfer application. <br /> <br />Michael G. Davis stated he is an owner of Holly & Mike's Ribs, Inc., d/b/a Hickory Sticks at 1000 <br />South Boulder Road, Louisville, CO 80027. <br /> <br />Mr. Davis stated that he recalled being provided with a handwritten list of equipment. The <br />attachments did not include any equipment leases or assumption of debt listings for items contained <br />in the building. He continued that the lack of paperwork disturbed him throughout the franchise <br />process. <br /> <br />Chairperson Myers asked Mr. Davis if he ever received a list of inventory. Mr. Davis responded that <br />he received a handwritten list of inventory and was limited to edible and supply goods. <br /> <br />\~RED\V A RRAN~LIQUORL2000~IlN UTES~vlINUTES051500S PECIA L.DOC <br /> <br /> <br />