SAUGUS – Pamela Avedisian, the majority owner of the property at 60 Salem Turnpike, Route 107, has signed a purchase and sales agreement to sell her liquor license to Philip S. Franco of DP Purveyors Inc. for $150,000 according to her attorney Steven Miller, who spoke at Monday night?s show cause hearing.?It?s been in the works for quite a while and it was executed tonight,” said Miller. “They?re planning on rebuilding and expect that it will take some time? at the last hearing the board was, ?use it or sell it,? and with the timing? they didn?t want to risk a total loss.”Miller said Avedisian, who was not present at the hearing, is still planning to build a restaurant at the site of the Atlantic Lobster Co., and is prepared to continue the plans without a liquor license.The project to rebuild the property has been on hold for more than two years. In that time there has been a series of fires at the site and an order by the Department of Environmental Protection to stop all work.Monday?s hearing also brought to light two more owners of the property in addition to Avedisian, who holds 70 percent ownership and Dustin Denunzio, who owns 5 percent.This caused a testy exchange between Miller and selectman Stephen Horlick.?When we were here a number of weeks ago? it was presented by Dustin Denunzio that he was part-owner with Pamela Avedisian and none of these names ever came up when I asked if she?s the sole owner of the property,” said Horlick. “Now all of a sudden these names come out with signed affidavits when you were asked who was the owner of the property.”Miller said he didn?t know the property was sold, and provided signed affidavits stating the ownership of all four parties. The affidavits also stated that the only person with an interest in the liquor license was Avedisian.?I apologize to the board,” said Miller. “All I?m trying to do is correct the record and file everything under pains and penalties (of perjury).”The board voted to continue the show cause hearing for Sept. 13 to allow Lt. Ronald Giorgetti to collect more evidence and to give the selectmen more time to review the relevant documents.