Contract for sale of automobile repair business.

Owner agrees to sell, transfer and deliver or cause to be sold, transferred and delivered to purchaser all the land described above, together with all improvements, fixtures and equipment located on the land (except the fixtures and equipment belonging to tenants described above, which fixtures and equipment are more particularly described in "list B" attached here and made a part of this agreement) by warranty deed, and all the personal property described in "list A" by bill of sale, and to carry out the other obligations assumed by owner, all for the consideration of $_____, which amount purchaser agrees to pay as follows:

(a) $_____ cash as earnest money and part purchase price this day paid by purchaser to owner, the receipt of which is acknowledged;

(b) Balance of purchase price, namely, $_____ in cash upon acceptance by purchaser from owner of warranty deeds and bills of sale evidencing the transfer of the real estate and personal property described above.

Owner further agrees to sell and deliver to purchaser the goodwill of the _________ company, together with the exclusive right to the use of the name "_________ company" and to change the name of that company if and when requested by purchaser to do so, so as to make it possible for purchaser to organize a new company under the name.

Owner further agrees to comply with the bulk sales law in transferring the property of the _________ company, and to take such other action as may be required from time to time by the attorney for the purchaser in order to completely vest in the purchaser title to all of the property described above.

Owner further agrees to transfer to purchaser owner's interest, if any, in the alleys adjoining the property described above.

Rents, interest, water license, taxes and insurance to be adjusted as of date of transfer of the property.

The sale under this contract is to be closed on or before _________[Date], at the office of _________, and on closing of the sale, owner agrees to pay to the realty company $_____ as commission. If sale is not closed at that time owing to failure or neglect of the purchaser to comply with the terms of this agreement, the above-mentioned earnest money is to be forfeited to the owner, but such forfeiture shall not release purchaser from any liability for the fulfillment of this contract of sale or the payments of money mentioned here, if the owner shall elect to enforce the fulfillment of the same.

If upon examination, the title is found imperfect and cannot be perfected within a reasonable time, or if for any reason good title cannot be transferred by owner to purchaser in and to all the property described above at the date of closing or within a reasonable time thereafter, then purchaser is to be paid a reasonable cost of examination of title, the earnest money is to be refunded and purchaser is to be released from any further obligation under this agreement.

In the event this contract is finally consummated, purchaser shall pay to the owner in addition to the purchase price set out above, interest at the rate of _________ percent per year upon the sum of $_____ from the date of this agreement to the date of the transfer of deeds, as provided for here, and in consideration of the payment of interest, owner shall account to purchaser for all profits made by the owner from date of this agreement to date of transfer of deeds out of the operation of any of the premises described above or sale of any of the personal property described above or rents on property described above, and owner agrees to immediately install a set of books as directed by purchaser for the purpose of ascertaining the profit.

Owner agrees to immediately submit to the examination by the purchaser of contracts for the purchase of gasoline or other supplies and all other contracts which may remain in effect after the sale provided for here has been consummated and assist the purchaser in securing the assignment to purchaser of any of such contracts which the purchaser may desire.

Owner agrees to render during [Year] to purchaser reasonable assistance in the conduct of the business from time to time as requested by purchaser without compensation.