Deed of Sale and Assignment Lease
DEED OF SALE
AND ASSIGNMENT LEASE
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This Deed of Sale and Assignment of Lease ("Deed") is made and entered into by and between [Your Name], the seller, residing at [Your Address], hereinafter referred to as the "Seller", and [Buyer's Name], the buyer, residing at [Buyer's Address], hereinafter referred to as the "Buyer".
I. PROPERTY DESCRIPTIONS
The property subject to this Deed is described as follows:
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Address: [Property Address]
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Legal Description: [Legal Description of Property]
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Lease Agreement: [Lease Agreement Number or Description]
II. TRANSFER OF OWNERSHIP
The Seller, by this agreement, irrevocably sells, transfers, and conveys to the Buyer all rights, title, and interests that the Seller possesses in and to the Property, which expressly includes any improvements, fixtures, and attachments found on the property at the time of sale.
III. ASSIGNMENT OF LEASE
The Seller, by executing this document, assigns, transfers, and conveys to the Buyer all of the Seller's rights, title, and interests in and to the Lease Agreement that is associated with the Property. This includes all rights, benefits, and obligations that are contained within the Lease Agreement.
IV. PURCHASE PRICE
The agreed-upon amount to be paid for the Property, hereinafter referred to as the Purchase Price, has been established at Ten million Dollars, represented numerically as $10,000,000.
V. CONDITIONS
The sale of the Property is subject to the following conditions:
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Buyer obtaining financing approval within 14 days of acceptance of this Deed.
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Property passing inspection by a licensed inspector to Buyer's satisfaction within 14 days of acceptance of this Deed.
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No material adverse change occurred to the Property or its legal status before closing.
VI. COVENANTS AND OBLIGATIONS
Both Parties agree to the following covenants and obligations:
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Seller shall provide Buyer with all necessary documentation related to the Property and the Lease Agreement.
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Buyer shall pay all applicable taxes, fees, and costs associated with the transfer of ownership and assignment of lease.
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Seller shall maintain the Property in its current condition until the closing date.
VII. CLOSING
The finalization of the sale agreement is scheduled to occur on or before the specified date of January 2050. The specific location for this closure will be determined based on mutual agreement between the involved parties
VIII. REPRESENTATIONS AND WARRANTIES
The Seller represents and warrants to the Buyer that:
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The Seller has a good and marketable title to the Property.
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There are no outstanding liens or encumbrances on the Property.
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The Seller has the legal authority to enter into this Deed.
IX. GOVERNING LAW
This Deed shall be governed by and construed by the laws of the [Jurisdiction].
IN WITNESS WHEREOF, the Parties hereto have executed this Deed of Exchange as of the date first above written.
SELLER:
[Your Name]
[Date Signed]
BUYER:
[Buyer's Name]
[Date Signed]
WITNESSES:
This Deed of Exchange is witnessed and signed on the day and the year first above written.
[Witness 1 Name]
[Witness 2 Name]
NOTARIZATION:
State of [State], County of [County]
On this [Date], before me, a Notary Public in and for said county and state, personally appeared [Your Name] and [Buyer's Name], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
[Notary Public Name]
Notary Public in and for [State]
My Commission Expires: [Expiration Date]
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