PERSONAL PROPERTY SALES CONTRACT
AGREEMENT made this ___________ day of ___________
(month), ____ (year), between ______________________ (hereinafter
"seller") and ____________________ (hereinafter
"Purchaser").
1. The
Property. The Seller has agreed to sell and the Purchaser has agreed to buy the
following personal property: ____________________________________________
__________________________________________________________________
2. Purchase
Price. The purchase price for the property described in paragraph 1 above shall
be _________________________ (amount) ($____________) and shall be paid as
follows:
(a) _____________________________ (amount)
($__________) upon execution of this agreement and
(b) The balance of
__________________________________ (amount) ($__________) payable in _________
( ____ ) equal monthly installments with interest at the rate of ______ percent
per annum, the first payment to begin ___________ ( ___ ) days after the
execution of this agreement. This
obligation shall be evidenced by a promissory note, a copy being attached
hereto, made a part hereof and designated as "Exhibit A."
3.
Warranties of the Seller. The Seller hereby warrants and represents to
the Purchaser that:
(a) The Seller owns and has good and marketable
title to the property being conveyed herein, free and clear of any pledges,
liens, judgments, encumbrances, security interests, claims or contract rights,
and further promises and covenants to refrain from so encumbering same from the
date of execution of this agreement until closing;
(b) No approval or consent of any third person is
required to effect the sale;
(c) The execution and performance of this agreement
will not violate any agreements to which the Seller is a party or any federal,
state or local laws, rules or regulations;
(d) The Seller's representations, warranties and
agreements shall be true and complete as of the date hereof and as of the
closing and shall survive the closing and the transactions contemplated by this
agreement.
4. Broker.
Both the Seller and the Purchaser warrant and represent that no broker was
involved in negotiating this purchase and sale, and both the Seller and the
Purchaser agree to indemnify and hold each other harmless against any and all
claims for brokerage.
5. Benefit.
This agreement shall be binding upon and inure to the benefit of the parties
hereto and their legal representatives, successors and assigns.
6.
Interpretation. This agreement shall be interpreted in accordance with
the laws of the State of _______________.
7. Invalid
Provision. In the event any provision or sub provision of this agreement is
held to be void, invalid or unenforceable in any respect, then the same shall
not affect the remaining provisions or sub provisions hereof, which shall
continue in full force and effect.
8. Entire
Agreement. This agreement contains the entire understanding of the
parties. It may not be changed orally. This agreement may only be amended or
modified in writing and with such writing being executed by both parties
hereto.
IN WITNESS WHEREOF, the parties have executed this
agreement the day and year first above written.
____________________________ ____________________________
Seller Purchaser
WITNESS: ______________________
