Agreement to Purchase Boat

Agreement to Purchase Boat, Subject to Inspection, with Bill of Sale

Agreement made on the (date), between (Name of Buyer) of , referred to herein as Buyer, and (Name of Seller), of , referred to herein as Seller.

Whereas, Seller is the owner of the Boat described below and, subject to the provisions of this Agreement, desires to sell such Boat to Buyer; and

Whereas, Buyer desires to purchase such Boat from Seller in accordance with the provisions of this Agreement,

Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

1. Description of Boat

Seller agrees to sell to Buyer, and Buyer agrees to purchase, the (type of boat), (name boat), an undocumented Boat, together with such Boat's and all other necessary equipment as such Boat is presently berthed at (name of port or marina). The (federal and/or state registration) information regarding said Boat is as follows:

2. Terms of Sale

The total purchase price of the Boat is $ . Seller acknowledges receipt of a deposit of $ , and Buyer promises to pay the balance, together with % interest per annum, before .

3. Condition of Boat

This Agreement is made subject to a favorable inspection of said Boat by to be chosen by Buyer, to be completed within days of the effective date of this Agreement.

If the findings of the inspection indicate that the Boat is not seaworthy and otherwise in good condition, then this Agreement will be terminated, and Seller will return the above-stated deposit made under this Agreement. Failure of Buyer to give notice to Seller of an unsatisfactory survey prior to the date of transfer of possession as set forth in Section 4 shall create the presumption that a satisfactory inspection was completed.

4. Transfer of Possession

Subject to the condition of Section 3 relating to an acceptable inspection of the Boat, Buyer will take possession of the Boat, and assume all risk of damage to and loss of the Boat, on .

5. Warranty

Seller warrants that the Boat is not encumbered by any mortgage, bond, or maritime lien. Other than this warranty, Seller is making no guarantee, warranty, or representation, express or implied, as to the kind, size, quality, description, or condition of the Boat, or its fitness for any use or purpose.

6. Severability

The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision.

7. No Waiver

The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred.

8. Governing Law

This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of .

9. Notices

Any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement.

10. Mandatory Arbitration

Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect.

11. Entire Agreement

This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement.

12. Modification of Agreement

Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party.

13. Assignment of Rights

The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party.

14. In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine.

WITNESS our signatures as of the day and date first above stated.

Exhibit A

Bill of Sale

For and in consideration of $ , cash in hand paid, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the undersigned Seller of (Street Address, City, State, Zip Code), does hereby sell unto (Name of Buyer) of (Street Address, City, State, Zip Code), the following described Boat, to-wit:

• Make

• Model

• Year

• Motor Vehicle or Title No.

• Boat Hull ID No.

Seller is selling said Boat in its as is and present condition and makes no warranty as to the condition of the Boat and waives any implied warranty of fitness for a particular purpose or merchantability.

Executed as of the Day of , 20 .

STATE OF

COUNTY OF

Personally appeared before me, the undersigned authority in and for said County and State, on this day of , 20 , within my jurisdiction, the within named , who acknowledged that he executed the above and foregoing instrument.