Personal Property Agreement {PPA22}

PPA 22 - 6 - 1 8 . PERSONAL PROPERTY AGREEMENT Page 1 of 2 The printed portions of this form, except differentiated additions, have been approved by the Colorado Real Estate Commission . 1 ( PPA 22 - 6 - 1 8 ) (Mandatory 1 - 1 9 ) 2 3 THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR 4 OTHER COUNSEL BEFORE SIGNING. 5 6 PERSONAL PROPERTY AGREEMENT 7 (RESIDENTIAL ONLY) 8 9 10 Date: 11 12 1. Agreement. Buyer agrees to buy , and Seller agrees to sell, the Personal Property described below on the terms and 13 conditions set forth in this agreemen t ( PPA ). This ag reement is entered into in conjunction with the Contract to Buy and Sell Real 14 Estate (Residential) for the sale and purchase of real estate dated ( Real Estate Contract), between 15 (Seller), and 16 (Buyer), and is part of the transaction relating to t he sale and purchase of the following legally described real estate in the County 17 of , Colorado: 18 19 20 21 known as No. (Property). 22 Street Address City State Zip 23 24 2 . Meaning of Terms. All d efined terms of the Real Estate Contract are incorporated by reference. 25 26 3 . Personal Property. The following personal property is agreed to be sold by Seller and purchased by Buyer: 27 28 29 (Personal Property). 30 31 4 . Price. The Price for the Personal Property is $ (fa ir market value as determined by Buyer and Seller ) . 32 33 5. Payment of Price; Conveyance of Personal Property. Buyer will pay Seller the Price and Seller will convey the Personal 34 Property to Buyer at Closing concurrent with the Closing of the Real Estate. 35 36 6 . A S I S Condition of the Personal Property ; Warranty of Title. 37 6.1 . A S IS . The Personal Property is sold in an AS IS, WHERE IS Condition as of the Date of this PPA, normal wear 38 and tear excepted. Any assignable warranty the Seller has for the Personal Property will be assigned to Buyer, without recourse, at 39 Closing. 40 6.2 . Title. Seller warrants to Buyer title to the Personal Property is free and clear of all liens and encumbrances as of 41 Closing, except: None . 42 43 7 . UCC Search. This PPA Is Is Not conditional on a UCC search satisfactory to Buyer. Any cost for such UCC search 44 will be promptly paid by Buyer. 45 46 8. Sales Tax. Any sales tax owed on th e purchase and sale of the Personal Property will be paid before it is delinquent by 47 None Buyer Seller 275 by Buyer and 275 by Seller . Sales Tax Will Will Not be prorated at Closing and be 48 final. 49 50 9. Personal Property and Use Tax. Any Personal Property or Use Tax for the Personal Property will be paid before it is 51 delinquent by None Buyer Sell er 275 by Buyer and 275 by Seller . Personal Property and Use Tax Will Will 52 Not be prorated at Closing and be final. 53 54 1 0 . Termination . Upon termination of the Real Estate Contract, this PPA terminate s . 55 56 American LegalNet, Inc. www.FormsWorkFlow.com PPA 22 - 6 - 1 8 . PERSONAL PROPERTY AGREEMENT Page 2 of 2 1 1 . Deadline. This proposal expires unless accepted in writing prior to the expiration of the 57 Deadline Date and Acceptance Deadline Time or, if there is a Counterproposal to the Real Estate Contract, prior to the expiratio n 58 of the 59 60 Date Date Date Date 61 American LegalNet, Inc. www.FormsWorkFlow.com