Purchase Agreement

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=95 BGCOLOR="#999999" TEXT="#080000" bgproperties="fixed" background="048005f0ermwup.png"> <div> <FONT SIZE="5" COLOR="#FFFFFF" FACE="Arial" ><B>The Running M Ranch</B></FONT><B>     </B><B>|     </B><A HREF="index.htm" TARGET="_top" TITLE="The Running M Ranch"><U><B>home</B></U></A></div> <div> back to<B>  </B><A HREF="id35.htm" TARGET="_top" TITLE="Contracts to Download:"><U><B>Contracts to Download:</B></U></A></div> <div> </div> </td> </tr><tr> <td valign="top" width=165 BGCOLOR="#FFFFFF" TEXT="#080000" bgproperties="fixed" background="2e35e913.jpg"> <div> <A HREF="id37.htm" TARGET="_top" TITLE="Breeding Contract"><U>Breeding Contract</U></A></div> <div> <B>Purchase Agreement</B></div> <div> <A HREF="id39.htm" TARGET="_top" TITLE="Training Agreement"><U>Training Agreement</U></A></div> <bR> </td> <td valign="top" height=385 BGCOLOR="#FFFFFF" TEXT="#080000" background="2e35e913.jpg"> <div> <B>The running m ranch</B><FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <bR> <div> MILLIKIN quarter horses<FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <div> ttt<FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <div> <IMG SRC="5236f3a0.jpg" border=0 width="111" height="58" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> <div> 136 N. CHURCH ST.<FONT SIZE="1" COLOR="#000000" FACE="Wingdings" >t</FONT> VILONIA, AR 72173<FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <div> Phone 501-796-2659 <FONT SIZE="1" COLOR="#000000" FACE="Wingdings" >t</FONT> Fax 501-796-2659<FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <div> <U>www.therunningmranch.com</U><FONT SIZE="3" COLOR="#000000" FACE="Arial" ><U> </U></FONT></div> <div> <B>PURCHASE AGREEMENT</B><FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <div> <B>(BILL OF SALE)</B><FONT SIZE="3" COLOR="#000000" FACE="Arial" > </FONT></div> <div> <B>Seller Buyer</B> </div> <div> <B><U>The Running M Ranch                  </U></B><B> Buyer_____________________________</B> </div> <div> Name                                                              Name </div> <div> <B><U>136 N. Church St.</U></B><B>____________             </B>_____________________________ </div> <div> Address                                                         Address </div> <div> <B><U>Vilonia, AR 72173</U></B>___________               _____________________________ </div> <div> State,City,Zip                                                  State,City,Zip </div> <div> <B><U>(501) 796-2659</U></B><U>_</U>______________            _____________________________ </div> <div> Phone                                                              Phone</div> <div> This agreement is made between_______________________________________________________ herein after referred to as the BUYER and <B><U>Millikin & Sons Farms</U></B><B> </B>herein referred to as the SELLER or purchase of the horse described below: </div> <div> Name:____________________________________________________________________________ </div> <div> Age:_______, Color:________,Sex:_______,Breed:_________,Registration Number:_____________ </div> <div> The Buyer understands and agrees to the following total price $_________________. </div> <div> The Seller agrees to sell and the Buyer agrees to buy said horse based on the following terms. </div> <div> A down payment in the amount of $______________ has been received by the Seller. </div> <div> The balance due is $__________ which will be paid in monthly/lump sum and the total amount to be received by ______________. If payments are to be made they will be received by the _____ of the month in the amount of $________ each month. </div> <div> The ________________ will be kept at ________________ for ___________ months or until the Purchase Agreement is paid in full. </div> <div> The Seller warrants that they have clear title to said horse. </div> <div> The Seller makes no other warranties express or implied, including warranty of fitness or use for a particular purpose, and the Buyer purchases said “as is.” </div> <div> Upon payment in full, Seller agrees to execute all necessary papers (Bill of Sale, Registration Transfer) so that ownership and registration of said horse may be transferred to Buyer. Payment of all Registration Transfer Fees will be paid for by _______________. </div> <div> In the event that the Buyer is unable to complete the transaction in full, the said will return to the Seller in satisfactory condition and the sale will be nullified and the payments already made will be forfeited. </div> <div> In the event that the said horse becomes ill, permanently disabled, or dies, the Buyer agrees to fulfill the terms of payment. </div> <div> Either party may nullify this Agreement if the other party breaches a material term of this Agreement. The wronged party may recover reasonable attorney's fees and court costs. </div> <div> Executed this _________ day of __________, 20______.</div> <div> ________________________ _______________________ </div> <div> signed signed </div> <div> <B>Seller Agent</B> <I><B>Buyer</B></I> </div> <div> <I><B>The Running M Ranch</B></I></div> <div> <I><B>VER2010</B></I></div> <bR> <DIV ALIGN="LEFT"></DIV> <div> <B>                           </B></div> </td> </tr></table></body>