BILL OF SALE OF PROPERTY IN EXCHANGE FOR STOCK This is an agreement between: [NAME AND ADDRESS OF “Stock Buyer/Asset Transferor”] and [COMPANY NAME] a corporation registered in the state of [STATE], herein called the “Corporation.” In return for the issuance of [N] shares of stock of the Corporation, Stock Buyer/Asset Transferor hereby sell(s), assign(s), and transfer(s) to the corporation all right, title, and interest in the following property (the “Property”): 1 2 3 4 5 In return for the transfer of the Property to it, the Corporation hereby agrees to assume, pay, and discharge all debts, duties, and obligations associated with the Property as of the date of this agreement, except [N]. The Corporation agrees to indemnify and hold the Stock Buyer/Asset Transferor and the Property free from any liability for any such debt, duty, or obligation and from any suits, actions, or legal proceedings brought to enforce or collect any such debt, duty, or obligation as of the date of this agreement except [N]. The Stock Buyer/Asset Transferor hereby appoints the Corporation as representative to demand, receive, and collect for itself any and all debts and obligations now owing to Stock Buyer/Asset Transferor and hereby assumed by the Corporation. Stock Buyer/Asset Transferor further authorizes the Corporation to do all things allowed by law to recover and collect any such debts and obligations and to use Stock Buyer/Asset Transferor’s name in such manner as it considers necessary for the collection and recovery of such debts and obligations, provided, however, without cost, expense, or damage to Stock Buyer/Asset Transferor.
Agreed and Accepted: For Stock Buyer/Asset Transferor:
For :Corporation
(Please sign above and print name and title here) Date: August 12, 2008
(Print Name, Title: President) Date: August 12, 2008
For Stock Buyer/Asset Transferor:
For :Corporation
(Please sign above and print name and title here) Date: August 12, 2008
(Print Name, Title: Treasurer) Date: August 12, 2008