Fill and Sign the Tennessee Bill of Sale in Connection with Sale of Business by Individual or Corporate Seller Form

- 1 - BILL OF SALE KNOW ALL MEN BY THESE PRESENTS: FOR VALUABLE CONSIDERATION, of Ten dollars ($10.00) cash in hand paid, the receipt and sufficiency of which is hereby acknowledged, _________________________________________________________ (name), of _____________________ (city), Tennessee, or ___________________________________, a ____________________ Corporation, hereinafter “Seller(s)”, do hereby BARGAIN, SELL, ASSIGN, CONVEY, TRANSFER, DELIVER and WARRANT unto _________________________________________________________________________, individuals, his/her/their successors and assigns, OR ________________________________________, a _________________ corporation, its successors and assigns, hereinafter “Purchaser(s), all of the fixtures, machinery, equipment, vehicles, tools, inventory and other personal property (add or delete items as desired) located at _________________ (city), Tennessee, ("Premises"), as more specifically set forth as follows: a)All furniture, fixtures, machinery, equipment, vehicles, tools, blueprints, specifications, supplies, leasehold or other existing improvements, and other tangible personal property located or maintained at Sellers' Premises including those listed on Schedule 1 attached hereto; b) The inventories of raw materials, general stores and spare parts (collectively, the "Inventories"), together with any additional inventories obtained in the ordinary course of business prior to the Closing Date;c)All available operating data and records used in connection with the Business, including books; records; customer lists, order files and credit histories; supplier information; purchasing records; technical and repair data and manuals; invoices; and sales and promotion literature;d)All of Seller's rights under, and interest in, the contracts, customer agreements, purchase orders, leases and other agreements listed on Schedule 2 attached hereto, to the extent they are assignable (the "Assigned Agreements");e)Work in process, associated accounts receivables and customer deposits shall be allocated between Purchaser(s) and Seller(s) as agreed between Seller(s) and Purchaser(s). If the Total Net Allocation is a negative number, said amount shall be deducted from the Purchase Price at Closing. If the Total Net Allocation is a positive number, said amount shall be added to the Purchase Price. For the purposes of this Agreement, Total Net Allocation is defined as the net realizable value of the work in progress less any amounts billed or collected by Seller(s) on or before the Closing Date.f) All licenses, processes, designs, formulas, computer programs, computer software - 2 - packages, trade secrets, product manufacturing instructions, technology, research and development, know how and all other intellectual property utilized in the conduct of the Business;g) The right to use the telephone number or numbers used by Seller(s) immediately prior to the closing date; provided that Purchaser make all necessary arrangements for the transfer of telephone billings to its own name and address;h) All rights of Seller(s) as of the Closing Date under or pursuant to warranties, representations and guarantees made by suppliers in connection with the Business, Purchased Assets or services furnished to Seller(s) pertaining to the Business or affecting the Business or Purchased Assets, to the extent such warranties, representations and guarantees are assignable by Seller(s) to Purchaser(s);i) All transferable governmental licenses, permits, and other authorizations held by the Seller in connection with the conduct of the Business; andj)All other property and rights, except the Excluded Assets, tangible and intangible, which Seller(s) owns, uses or is acquiring in connection with the operation of the Business, wherever located regardless of whether (1) reflected on Seller's books and records, and (2) enumerated in clauses (a) through (i) above or on the schedules referred to in clauses (a) through (i) above;k)Other assets transferred:_________________________________________________________________ _________________________________________________________________ _________________________________________________________________ _________________________________________________________________ _________________________________________________________________ _________________________________________________________________ All books and records of Seller(s) relating primarily to the foregoing assets. All available current customer lists and other technical information concerning the business ("Business”).All other tangible property owned by Seller(s) for use in connection with the Business and located on the Premises.TO HAVE AND TO HOLD all of said properties and assets unto Purchaser(s) the Purchasers’ successors and assigns forever, and Seller(s) and Seller’s successors and assigns, does hereby covenant and agree to and with Purchaser(s), and Purchasers’ successors and assigns, that it has full and complete power to transfer and assign all of said properties and assets as aforesaid, that the same are free of all liens and encumbrances whatsoever, and that it will warrant and forever defend the sale of said properties and assets against all lawful claims and demands whatsoever. - 3 - Seller(s) further covenants and agrees that Seller(s) shall, at any time and from time to time, at the request of Purchaser(s), execute and deliver to Purchaser(s) any and all instruments and documents which may be necessary to vest in Purchaser(s) full title, right and interest in and to any of said properties and assets.As used herein, “Purchaser(s)” shall mean all Purchasers, whether one or more and “Seller(s)” shall mean all Seller(s)s, whether one or more.IN WITNESS WHEREOF, said ________ has hereunto set its hand this _____ day of _________________________, 20____. Signature(s) of Seller(s)____________________________________ ____________________________________ Seller’s Signature if Corporation____________________________________ By_________________________________ Name Its: ________________________________ Title Acknowledgment for Individual State of ___________________________________________ CountyPersonally appeared before me, the undersigned, a Notary Public within and for said State and County aforesaid, duly commissioned and qualified, _____________________________________ , the within named bargainers, with whom I am personally acquainted, or proved to me on the basis of satisfactory evidence, and who acknowledged that they executed the foregoing instrument for the purposes therein contained.Witness my hand and seal at office this ______ day of ______________________ , _______ . ____________________________________Notary Public, State of Printed Name: _______________________ - 4 - My Commission Expires: _____________________ Acknowledgment for Corporation State of _____________________________________ CountyPersonally appeared before me, the undersigned, a Notary Public within and for said State and County, duly commissioned and qualified , ______________________________ , with whom I am personally acquainted, or proved to me on the basis of satisfactory evidence, and who, upon oath, acknowledged himself/herself to be the ______________________ of __________________________ , a corporation, the within named bargainer, and that he/she as such __________________________ , being authorized to do so, executed the foregoing instrument for the purposes therein contained by signing the name of the corporation by himself/herself as such officer.Witness my hand and seal at office this _______ day of ______________________ , ______ ___________________________________Notary Public, State of Printed Name:________________________ My Commission Expires: _____________________Seller(s) Name and Address Purchaser(s) Name and Address_______________________________ ______________________________ _______________________________ ______________________________ _______________________________ ______________________________ _______________________________ ______________________________ - 5 -SCHEDULE 1List of Items - 6 -SCHEDULE 2 Agreements Assigned or Transferred