Fill and Sign the Form Pa 864lt

Agreement for Sale of all Rights, Title and Interest in Limited Liability Company with Payment of Cash and Promissory Note and with Life Insurance Policy to Cover Buyer’s Life with Limited Liability Company to be Beneficiary Agreement made on the ___ day of __________, 20___, between __________________________ of ______________________________________________ (street address, city, county, state, zip code), referred to herein as Seller, __________________________ of ____________________________________________________ (street address, city, county, state, zip code), referred to herein as Buyer, and _____________________ LLC, a limited liability company organized and existing under the laws of the State of __________________ with its principal office located at __________________________ __________________________ (street address, city, county, state, zip code), herein referred to as Company. Whereas, Seller is the sole member of Company; and Whereas, Buyer desires to buy, and Seller desires to sell, all of Seller’s rights, title and interest in and to Company, including, but not limited to all of Seller’s rights as the sole member of Company pursuant to the Operating Agreement attached hereto as Exhibit A; 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: I. Distribution of Property SoldSeller agrees to sell to Buyer and Buyer agrees to purchase from Seller at the price and under the terms and conditions set forth in this Agreement, all of Seller’s rights, title and interest in and to Company, including, but not limited to all of Seller’s rights as the sole member of Company pursuant to the Operating Agreement attached hereto as Exhibit A. Seller warrants that he is the sole member of Company and owns all rights, title and interest in Company as set forth in said Exhibit A. II. Purchase PriceThe purchase price to be paid by Buyer to Seller for said interest in Company as described in Section I shall be $ ___________________. III. Terms of PaymentBuyer shall pay the above-stated purchase price as follows:
For all parcels purchased from seller, twenty percent (20%) (50% of the fair market rental value). For all parcels purchased from purchaser, thirty percent (30%) (75% of the fair market rental value). Iii. Payment to seller of balance of outstanding indebtedness buyer shall pay to seller the following: for all parcels purchased from seller , thirty percent (30%), and the balance, if any, to be paid to seller according to the following schedules: for all parcels purchased from purchaser, for all parcels purchased from seller, thirty percent (30%), fifteen percent (15%) (30% of the fair market rental value), and the balance, if any, to be paid to seller according to the following schedules: for all parcels purchased from purchaser, for all parcels purchased from seller, fifty percent (50%). Iv. Payment of cash, promissory notes, and insurance proceeds to seller buyer shall pay to seller the following: for all parcels purchased from seller , twenty percent (20%), twenty percent (20%), five percent (5%), five percent (5%). V. Payment of interest and premiums for seller's interest paid on said loans by either party, according to the following schedules: for all leases sold , for all leases sold, for all leases sold , twenty percent (20%), twenty percent (20%), and ten percent (10%) (60% of the fair market rental value).