Download Business Microsoft Bill Of Sale Template for Free

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AGREEMENT TO SELL BUSINESS
Agreement made this _________day of _________, 20__ by and between ____________________ and
_____________________ (doing business as _________________________ ) of
____________________________________ (hereinafter referred to as "Seller") and
_________________________________ (hereinafter referred to as the "Buyer").
Whereas the Seller desires to sell and the Buyer desires to buy the business of a certain _______________________
now being operated at ____________________________ and known as ______________________ and all assets
thereof as contained in Schedule "A" attached hereto, the parties hereto agree and covenant as follows:
1. The total purchase price for all fixtures, furnishings and equipment is $___________ dollars payable as follows:
a) $____________ paid in cash; certified or bank checks, as a deposit upon execution of this Agreement, to be held by
________________________.
b) $___________ additional to be paid in cash, certified or bank checks, at the time of passing papers.
c) $___________ to be paid by a note of the Buyer to the Seller, bearing interest at the rate of _____ percent per annum
with an option of the Buyer to prepay the entire outstanding obligation without penalty. Said note shall be secured by a
chattel mortgage and financing statement covering the property to be sold hereunder, together with any and all other
property acquired during the term of said note and placed in or within the premises known as
______________________________________________.
2. The property to be sold hereunder shall be conveyed by a standard form Bill of Sale, duly executed by the Seller.
3. The Seller promises and agrees to convey good, clear, and marketable title to all the property to be sold hereunder, the
same to be free and clear of all liens and encumbrances. Full possession of said property will be delivered in the same
condition that it is now, reasonable wear and tear expected.
4. Consummation of the sale, with payment by the Buyer of the balance of the down payment and the delivery by the
Seller of a Bill of Sale, will take place on or before
______________, 20__.
5. The Seller may use the purchase money, or any portion thereof, to clear any encumbrances on the property transferred
and in the event that documents reflecting discharge of said encumbrances are not available at the time of sale, the
money needed to effectuate such discharges shall be held by the attorneys of the Buyer and Seller in escrow pending the
discharges.
6. Until the delivery of the Bill of Sale, the Seller shall maintain insurance on said property in the amount that is presently
insured.
7. Operating expenses of _____________________ including but not limited to rent, taxes, payroll and water shall be
apportioned as of the date of the passing of papers and the net amount thereof shall be added to or deducted from, as the
case may be, the proceeds due from the Buyer at the time of delivery of the Bill of Sale.
8. If the Buyer fails to fulfill his obligations herein, all deposits made hereunder by the Buyer shall be retained by the Seller
Business Microsoft Bill Of Sale Template
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