Someone had said somewhere (and, I apologize for not looking it up to see where) that the total sale price was $100k. Here's what I'm finding and that is definitely not the case:
In consideration for the assets to be conveyed by Seller to Buyer, Buyer shall pay
to Seller the total sum of Fifty Thousand Dollars ($50,000) (the “Purchase Price”), which shall
be paid as follows:
a. Upon execution of this Agreement, Buyer shall pay Twenty-Five Thousand
Dollars ($25,000) to Seller, by check, which shall constitute the Down Payment.
b. Buyer shall pay to Seller at Closing (defined below), by wire transfer of
immediately available funds to Seller’s banking account, the additional sum of Twenty-Five
Thousand Dollars ($25,000).
c. Payment of the Purchase Price shall not be considered received and the
transaction consummated until the check for the Down Payment and the wire transfer have
cleared Seller's bank;
d. In the event the transaction does not close due to an uncured breach by
Buyer, Seller shall retain the Down Payment as liquidated damages, which shall serve as Seller’s
sole remedy.
e. In the event the transaction does not close due to an uncured breach by
Seller or due to the fault of neither Seller nor Buyer, Seller shall promptly return the Down
Payment to Buyer. Buyer shall be entitled to specific performance as its sole remedy for an
uncured breach by Seller.
