Termination Motorcycle Agreement

TERMINATION MOTORCYCLE AGREEMENT

This Termination of Motorcycle Agreement ("Agreement") is entered into as of by and between Owner: , Owner Address: , and Purchaser/Holder: , Holder Address: .

RECITALS

WHEREAS, the parties entered into a written agreement titled dated (the "Original Agreement") concerning the sale, lease or security interest in a certain motorcycle described below; and

WHEREAS, the motorcycle subject to the Original Agreement is described as follows: Year , Make , Model , VIN , Odometer miles.

WHEREAS, the parties desire to terminate the Original Agreement on the terms set forth in this Agreement and to settle all obligations, claims and liabilities arising out of or relating to the Original Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. Definitions

For purposes of this Agreement, the following terms shall have the meanings given below: "Original Agreement" means the agreement identified above; "Motorcycle" means the vehicle identified above; "Effective Date" means the date set forth in the first paragraph of this Agreement.

2. Termination

The Original Agreement is hereby terminated and of no further force or effect as of the Effective Date. From and after the Effective Date, neither party shall have any rights or obligations under the Original Agreement except as expressly set forth in this Agreement.

3. Settlement Payment

As full settlement of all monetary obligations arising out of the Original Agreement, Holder shall pay to Owner the sum of payable in a single payment due on or before .

Payment shall be delivered to Owner at the following address for notices or by such other method as the parties agree in writing:

4. Transfer of Possession and Title

Upon receipt of the Settlement Payment in cleared funds, Holder shall take the following actions: (a) promptly deliver possession of the Motorcycle to Owner at ; (b) execute and deliver to Owner any instruments of transfer necessary to convey good and marketable title to the Motorcycle, free and clear of all liens, encumbrances, security interests and claims, except those disclosed in writing prior to the Effective Date.

Title transferred: I acknowledge that the obligation to deliver title upon payment is expressly required by this Agreement.

5. Release and Mutual Release

Upon satisfaction of the obligations set forth in this Agreement, each party, on behalf of itself and its affiliates, successors and assigns, hereby irrevocably releases and forever discharges the other party and its officers, directors, employees, agents and representatives from all claims, causes of action, demands, liabilities and damages, whether known or unknown, arising out of or in connection with the Original Agreement, subject to the limited exceptions expressly set forth herein.

6. Representations and Warranties

Each party represents and warrants that: (a) it has full authority to enter into and perform this Agreement; (b) the execution and delivery of this Agreement and the performance of its obligations do not and will not violate any law, order, contract or other obligation binding on such party; and (c) there are no pending claims, actions or proceedings against it that would reasonably be expected to impair its ability to perform under this Agreement.

7. Indemnification

Each party shall indemnify, defend and hold harmless the other party from and against any losses, damages, liabilities, costs and expenses (including reasonable attorneys' fees) arising out of a breach of such indemnifying party's representations, warranties or covenants contained in this Agreement.

8. Confidentiality

The parties agree to keep the terms and amount of the settlement confidential and not to disclose such information except as required by law or to their professional advisors who are bound by confidentiality obligations.

9. Notices

All notices required or permitted under this Agreement shall be in writing and shall be deemed delivered when delivered personally or sent by certified mail, return receipt requested, or by nationally recognized overnight courier to the addresses set forth below or to such other address as either party may designate by notice in accordance with this Section.

10. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the state designated by Owner: , without regard to conflict of law principles.

11. Entire Agreement

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written, between the parties.

12. Severability

If any provision of this Agreement is determined to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

13. Amendments and Waivers

No amendment, modification or waiver of any provision of this Agreement shall be valid unless in writing and signed by both parties. No waiver by either party of any breach shall be construed as a waiver of any subsequent breach.

14. Counterparts

This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures transmitted by electronic means shall be treated as original signatures.

15. Further Assurances

Each party agrees to execute and deliver such further documents and to take such further actions as may be reasonably necessary to effectuate the purposes of this Agreement.

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