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AGREr~IENT ON SALE OF BUSINESS
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WHEREAS~ Ann B. Greene, hereinafter called Seller is
the owner of the business known as Sandpiper Bay Beauty
Salon at 2729 Morningside Boulevard, Port St. Lucie~ Florida
hereinafter called Business. and whereas Seller wishes to
sell her interest in Business to Maria M. Sanders hereinafter
called Buyer, Seller and Buyer hereby agree to the following
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1. Seller will sell and Buyer will purchase the Business
for the sum of Twenty Thousand Dollars ($20.000). The
purchase price includes leasehold improvements and
carpeting ($10,000), equipment ($8.000) and goodwill ($2.000).
2. Se11er hereby acknowledges receipt oi Buyer's note payable
to Seller in the amount of Twenty Thousand Dollars
($20,000) at a rate of twelve percent per annum (12~) for
a period of ten (10) years. The~note is payable in
equal monthly installments of Two Hundred Eighty-Six
Dollars and Ninety-Five Cents ($286.95) each month.
3. Buyer and Seller agree that any default on the note
payable to Seller will cause tt-e unpaid balance of
this note to become due and payable immediately and
Seller will have the right to repossess the business
according to the Security Agreement.
4. The effective date for this Sale of Business is February
1, 1981.
5. Buyer will assume responsibility for all bills and
expenses of Business beginning on February l. 1981. All
bills and expenses applicable to the period prior to
February l, 1981 are responsibility of Seller.
The undersigned hereby enter into this agreement on this
lOth day of February. 1981.
- This agreement is subject to the acceptance and signing of a
leasP or sub-lease for the Beauty Salon premises located at
29 M~ r in side Boulevard i Seller St. Luc' . Flor_da.~~~
Witness Ann B. Greene
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Witness
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Seller: " G~~~6'G~cp
M~ia M. Sande"rs
~~~x 348 e~~E 27$3
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