Sample car purchase and sale agreement with encumbrance

What does a purchase and sale agreement for a secured car look like?

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If a vehicle is pledged to a credit institution, this does not mean that it is “excluded” from civil circulation. Transactions with cars that are pledged are successfully completed - vehicles are bought and sold, you just need to take into account some nuances.

So, if the seller does not pay before the sale of the pledged car with the bank, then the encumbrance along with the car will be transferred to the new owner. In this case, it is necessary to obtain the consent of the bank to carry out such an operation.

If the buyer is satisfied with the option of purchasing a vehicle that is pledged, for example, the seller cedes such property at a price below the market price, then the parties must prepare a purchase and sale agreement for the transfer of ownership.

Despite the fact that the law does not require mandatory notarization of this category of transactions, it is still better to resort to the services of a notary in order to minimize risks.

Sample of a standard purchase and sale agreement for a secured car

In terms of its legal structure, the purchase and sale agreement for a collateralized vehicle is no different from an ordinary similar agreement for the purchase and sale of transport, which is not burdened with collateral obligations.

The only difference will be that in order for the seller to sell the car, he must obtain prior permission for the transaction from the bank.

In practice, the parties may also provide for the following scenario:

The buyer transfers money to repay the loan to the seller;
The seller repays the loan and receives confirmation from the bank that the car is no longer pledged.

Thus, the buyer purchases a vehicle that is “clean” of third party rights.

How to document this?

If the option is chosen that the deposit is repaid with the buyer’s money, then the parties can pre-execute, for example, an interest-free loan agreement, subsequently reducing the price of the car transferred under the purchase and sale agreement by its value.

In the same case, if the pledge is retained, then the new owner of the car will become the legal successor under the pledge agreement.

In any case, the purchase and sale agreement itself must be drawn up in full compliance with the law, including all the necessary information:

Date and place of drawing up the contract;
Information about the parties to the transaction;
Subject of the agreement and identification of the subject, namely, the vehicle being transferred.

The subject is an essential condition of the transaction, therefore, information about it must be provided as complete as possible, in particular, indicating:

car make and model;
year of manufacture, manufacturer;
VIN;
engine number;
color;
other information from the PTS, as well as details of the PTS itself.

Sample contract for the purchase and sale of an ATV between individuals.

See what the purchase and sale agreement for a truck looks like here.

Here you should write on the basis of what documents the seller owns this car.

Information about whether the car is subject to encumbrance. If yes, then it is stated that the car is pledged to the bank (the pledge holder is identified), and that the rights and obligations under the pledge agreement are transferred to the buyer;

If there are no rights of third parties to the car, a corresponding entry about this is made in the contract.

5) Price and payment procedure, payment terms;
6) Rights and obligations of the parties;
7) Responsibility of the parties and force majeure circumstances excluding liability;
8) Procedure for terminating the contract;
9) Other conditions;
10) Details and signatures of the parties.

The contract is optional and the parties are free to include all the required conditions in it, the main thing is that they do not conflict with the law.

The nuances of buying a mortgaged car

When buying a mortgaged car there are certain risks, in particular:

Selling a car without the consent of the bank, which may lead to the seizure of the collateral. A buyer who does not know about the mortgage risks being drawn into lengthy legal proceedings;
Refusal by the seller of the transaction after the buyer repays the loan. To avoid this, it is best for the seller to choose trusted ones and use the services of lawyers when drawing up contracts.

Contacting a notary will significantly reduce probabilistic risks under the contract.

Buying a collateral car from a bank

Cars that have been repossessed can be sold directly by the credit institution. The prices for such cars are significantly lower than the market average, and the legal risks are much lower.

The agreement does not have any significant features.

At the same time, there is a risk that the car will not be in the best technical condition, since it is unlikely to have been properly cared for in the period after it was collected from the debtor.

How to draw up a contract for the purchase and sale of a car with an encumbrance?

An encumbrance placed on a car limits the owner’s ability to dispose and use the property. A similar situation may arise as a result of taking out a car loan or legal proceedings.

As practice shows, situations often occur when a borrower took out a loan to purchase a car, but was unable to repay the debts on time. In this case, the question arises of resale of the car to pay off the remaining debt.

General information

An encumbrance may contain not only a restriction of actions, but also additional obligations required to be fulfilled by the owner of the vehicle. If a car purchased through a car loan is put up for sale, you should understand that the vehicle is collateral for repayment of the loan and the most important documents are stored in the credit institution. Despite this, there is a legal way to transfer a car with an encumbrance under a purchase agreement.

The conditional vehicle may also be seized in connection with legal proceedings. In some cases, the court may issue an order prohibiting the purchase or sale of a vehicle. It is necessary to carefully study the terms of the encumbrance before transferring funds to the seller. If a vehicle is under arrest, its re-registration is impossible.

When completing a transaction, the seller must notify the buyer of the existence of an encumbrance. Otherwise, the first may face criminal liability for fraud. A contract for the purchase and sale of a car with an encumbrance is one of the legal ways to sell collateralized vehicles.

A purchase and sale agreement with an encumbrance does not differ from a standard agreement. When completing a transaction to purchase a car with an encumbrance, a transport acceptance certificate is drawn up. By signing the deed, the buyer confirms that he is completely satisfied with the condition of the car. At the same time, having received money from the buyer, the borrower pays off the remaining amount of the debt to the bank, after which he receives the PTS.

Another option involves re-issuing the loan to the buyer, after which the buyer pays the remaining amount of the debt and transfers the difference remaining from the cost of the car to the previous owner. If the encumbrance is not removed, the title will remain in the bank and if the loan is never repaid, the car will be seized from the seller to repay the car loan.

Sample contract for the purchase and sale of a car with an encumbrance

All documents must be prepared in accordance with the legislation of the Russian Federation. The contents of the contract for the sale and purchase of a car with an encumbrance include a mandatory indication of the place and time of the transaction, passport data of each party and technical data of the transferred vehicle.

If the car loan is reissued to the buyer, this point must be reflected in the purchase and sale agreement for the encumbered car. The agreement clearly states the right of the mortgagor, in case of failure to fulfill the terms of repayment of the loan, to withdraw the collateral property for the sale and repayment of the debt amount. The buyer assumes all obligations of the seller to the credit institution. Detailed information about the pledge holder is required. Selling a vehicle without the bank’s knowledge entails serious consequences for the seller and problems for the potential buyer.

If the parties to the transaction have chosen the option of preliminary repayment of the debt to the credit institution, the transaction is carried out in 2 stages. A preliminary agreement is concluded on an interest-free and gratuitous loan for the amount of outstanding debt from the buyer to the seller. After receiving the funds, the buyer immediately repays the loan and receives the vehicle title. All manipulations should be completed immediately at the time of repayment of the loan debt, in order to avoid fraudulent actions on the part of the seller. After early repayment of the car loan, the parties must draw up a purchase and sale agreement without encumbrance, and the cost of the car is reduced by the amount paid to the bank.

You can download a sample agreement from the link.

Rights and obligations of the parties

When drawing up a purchase and sale agreement for the purchase of a car pledged by the bank, it is necessary to clearly state the rights and obligations of the parties. First of all, the seller is obliged to provide the buyer with complete information about the accompanying encumbrance. He has no right to conceal facts that could influence the buyer's decision.

After receiving the funds, the car becomes the property of the buyer. The buyer, notified of all the conditions of the encumbrance, by signing the purchase and sale agreement, assumes all obligations of the seller to the credit institution. He undertakes to repay the debt, otherwise the car will be repossessed by creditors.

Responsibility

If you deliberately hide information about the accompanying encumbrance from a potential buyer, he will face criminal penalties for fraud. A citizen who buys a car that is pledged runs the risk of becoming a participant in a lengthy trial.

If, after signing a contract for the sale and purchase of a car with an encumbrance, the seller repays the amount of the debt, but refuses to transfer the car into the ownership of the buyer, the injured party has the right to apply to the court to bring the unscrupulous seller to justice. Therefore, when purchasing a car with an encumbrance, you should carefully monitor the execution of all stages of the transaction, special attention should be paid to the clauses and content of the purchase and sale agreement.

Nuances of the purchase and sale of a car with an encumbrance. Sample contract

When purchasing a car, the new owner may be faced with the fact that the car is “problematic” from the point of view of the law. As a rule, this is due to the fact that some kind of encumbrance is imposed on it - a pledge, a mortgage, a ban on registration, etc.

Let’s figure out what the buyer should do in this situation so as not to break the law and waste his money.

General information about encumbered cars

In relation to cars, you may encounter the following types of encumbrances:

Collateral and car loan. In this case, the car is a guarantee that the obligation (usually a debt) will be fulfilled. Accordingly, the car cannot be disposed of without the consent of the second party to the pledge agreement. If the car was purchased with a car loan, then from the very beginning it is pledged to the bank, and until the debt is fully repaid, the owner cannot freely dispose of it.
Arrest. It is imposed either as part of a legal dispute or during the execution of a court decision. In this case, the owner does not have the right to freely dispose of his car - and, in particular, to give, sell or otherwise alienate it.
Prohibition on registration actions. Formally, such a car can be bought and sold, but it will no longer be possible to register it until the ban is lifted.
Buying a car with maternity capital. At the federal level, there is not yet a law allowing the use of a maternity capital certificate to purchase a car. However, regional programs to support large families allow this to be done in some constituent entities of the Russian Federation (for example, in Novosibirsk, Kaliningrad or Kamchatka).

At the same time, buying a car is associated with an encumbrance: for some time after purchase, the car cannot be resold.

Other types of encumbrances are also possible, but they are less common.

Is it legal to buy such a car?

The very possibility of buying a car on which an encumbrance has been imposed exists. However, the following conditions must be met:

The seller must warn the buyer that the car is subject to restrictions. Without this, a criminal case may be initiated for fraud.
It is necessary to obtain the permission of the person in whose interests the encumbrance was imposed. In particular, banks often agree to sell cars purchased on a car loan, provided that the seller pays off his debt from the amount received.

The specific method of acquiring a car with encumbrances imposed on it depends on what kind of restriction was imposed.

The term “mortgage” itself means obtaining a loan from a bank secured by:

Property owned by the debtor.
The object that he is going to purchase with the borrowed amount.

In the second case, there is no question of buying a car. In the first case, when the loan does not have a specific purpose, it is quite possible to purchase a car. The purchase of a car that was purchased with a mortgage may or may not be associated with an encumbrance. The fact is that the object of the mortgage is the real estate, and not the car itself.

Prohibition or restrictions on registration actions

A restriction or ban on registration may be imposed for the following reasons:

Outstanding traffic fines.
Transport tax debt.
Existing loan for which the car was purchased.
Debt for alimony, etc.

The legislation provides for many options in which a car may be banned or restricted. This measure means that it is possible to formally conclude a contract of sale, exchange, donation or another similar one - but it will be impossible to register the car with the traffic police.

Thus, the buyer will automatically find himself in violation of the Code of Administrative Offenses of the Russian Federation, which provides for liability for late registration of a car - and, in addition, will not be able to fully use the purchased car, and certainly not be able to resell it.

Restrictions apply:

By bailiffs on the basis of a judicial act. This usually happens if the car is a disputed property.
Local traffic police department - if there are outstanding fines, the VIN code is not readable, the unit numbers do not match those indicated in the documents, etc.
Guardianship authorities - if there is arrears of alimony.
Investigative authorities (Investigative Committee, FSB, etc.) - if the car is used as evidence of a crime.
Customs – in case of incorrect declaration.

It is also possible to impose restrictions in other cases provided by law.

How to purchase?

To avoid problems when buying a car with a restriction, the buyer must:

Achieve the lifting of restrictions. For example, if restrictions were imposed in connection with debt, you must first pay off the debt (for example, by giving the seller a full prepayment with the condition that he will use it to pay off the debt), and only then buy and register the car.
Buy a car by proxy. In this case, the buyer will have the right to independently solve problems related to the car. However, in some cases they cannot be resolved (for example, with restrictions associated with investigative actions). In addition, the settlement of restrictions often requires additional costs - and therefore this must be specifically stipulated in the purchase and sale agreement.

Maternal capital

Federal legislation as of the beginning of 2019 does not yet provide for the possibility of buying a car with funds provided as maternity capital. However, in a number of regions, as an experiment, regional fertility support programs allow the use of government subsidies for such purchases.

Typically, the sale of a car purchased with maternity capital or with a local subsidy is associated with restrictions on the time of sale.

However, you can purchase a car purchased for maternity capital. But for this the following conditions must be met:

Expiration of the transaction restrictions.
Consent of local authorities to purchase, if the deadline has not yet expired.

Buying a car in installments usually involves the fact that the car remains pledged to the lender until the debt is fully repaid. In this case, you can purchase a car - but only on the condition that by the time of the transaction the payment amount for it is fully repaid. If this has been done, the seller has the right to dispose of the car at his own discretion.

The purchase of a car itself, which was purchased in installments, depends on the conditions under which the seller purchased the car. If there are no collateral conditions, then the car can be freely sold according to the general rules, and the debt to the first seller remains a personal matter of the one who sold the car. If a restriction was imposed on the car (for example, in the form of a pledge), then in order to resell it, you must first remove it, and only then carry out the sale.

If the car is pledged to the bank, its purchase must go through the following stages:

The owner of the car receives permission from the bank to sell the car.
A purchase and sale agreement is drawn up. It is recommended to have it certified by a notary.
The seller and buyer together receive a document from the bank stating that the loan has been repaid.
The seller gives the buyer a receipt stating that the funds deposited will be used to pay off the debt to the bank.
The money is transferred to the bank.
If the notary drew up the agreement, he will issue a receipt stating that the deposit has been removed from the car.
The seller collects the PTS from the bank.
If the price of the car is more than the amount owed, the balance is transferred to the seller.
An agreement is drawn up and the car is registered with the traffic police.

The difference between a contract and a regular one

However, there are significant features that need to be provided for in this agreement:

The very fact of encumbrance. If it has not been agreed upon in advance, the buyer has the right to assume that he is dealing with a fraudster.
The procedure for removing the encumbrance. If we are talking about an outstanding debt, the contract must stipulate an advance payment in an amount sufficient to remove the encumbrance. In this case, it is necessary to indicate how, when and within what time frame the encumbrance must be removed - and exactly what actions the seller must take for this.
Consequences if the encumbrance was not lifted. It is usually provided that in this case the seller fully returns the advance payment and pays compensation for the violated interests of the buyer. However, the exact wording here depends on the will of the parties to the contract.

Download the form of contract for the sale and purchase of a car with an encumbrance
Download a sample contract for the sale and purchase of a car with an encumbrance

What to do if you bought a car with a registration ban?

If the buyer is unlucky and purchases a car with a registration ban or restriction, he needs to take the following steps:

Request from the traffic police a copy of the document on the basis of which the ban was imposed.
Understand the reasons for the ban. They may be the grounds provided for by the Federal Law “On Enforcement Proceedings” or others.
Go to court. The requirements will be either recognition of ownership of the car, or the abolition of restrictions on the actions of registering the car.

Purchasing a repossessed car is a very real task, but it requires that certain precautions be taken. Usually they come down to the fact that the encumbrances are removed at the initiative of the person who declared their imposition.

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Purchase and sale agreement with encumbrance

A purchase and sale agreement with an encumbrance is necessary in a situation where there is property that is encumbered with a collateral obligation, but there is nothing more to pay or there is no need for this property, the question arises of how to sell such property because it is under an encumbrance. An example is the well-known fact of selling an apartment with an encumbrance. In such cases, the seller, in order to pay off his debt to the Pledgee, transfers the pledged property into ownership, and the Buyer accepts and pays its cost.

The Registration Law contains the concept of encumbrance - these are conditions that constrain the owner in the use and disposal of property, giving rise to the rights of third parties to it.

The peculiarity of encumbrances is that they can be expressed not only in limiting the rights of the owner, but also in imposing certain responsibilities on him. First of all, this applies to apartments transferred under a rental agreement and lifelong maintenance with dependents.

A purchase and sale agreement with an encumbrance is an excellent way to legally sell or buy property that is under collateral. The purchase price may be much lower than the market price. The fact is that not one person will want to buy property that is under encumbrance. But literate people, on the contrary, try to conclude purchase and sale agreements with an encumbrance and save money on this.

Buying and selling under a contract with an encumbrance is an excellent option for saving money with little hassle.

The transfer of property under a purchase and sale agreement with an encumbrance is formalized by an act of acceptance of the transfer of property, but after signing the act of acceptance and transfer of property by the Buyer, any further claims against the Seller in connection with the sold property under the purchase and sale agreement with an encumbrance are excluded. You can find out more about the purchase and sale agreement with an encumbrance below using the example of a purchase and sale agreement for a vessel with an encumbrance, and if necessary, alter it to your needs.

Quite often, people who have taken out a mortgage are faced with the need to sell their property. The apartment is owned by the bank, so a legally competent transaction can only be carried out in the presence of a bank representative.

The transaction is being carried out in stages:

The seller, at the expense of the buyer, pays off the debt for the apartment to the bank, which removes the encumbrance;
Selling real estate at a price equal to the difference between the market value and the amount of debt paid.

Purchase and sale agreement with encumbrance

AGREEMENT OF PURCHASE AND SALE WITH A PLEDGE OF OBLIGATION

______________ "__"_________ 20__

________________________, hereinafter referred to as (name of the organization) as the “Seller”, represented by _________________________, (position, surname, first name, patronymic) acting on the basis of ________________________, on the one hand, and (Charter, regulations) ________________________, hereinafter referred to as__ (name of the organization) “Buyer”, represented by _____________________, (position, surname, name, patronymic) acting on the basis of _______________________, on the other hand, with the consent of ______________________, hereinafter referred to as (name of organization)

The “Pledgee”, represented by _________________, (position, surname, first name, patronymic) acting on the basis of ____________________, have entered into this Agreement as follows:

The Seller, in order to repay its debt to the Pledgee under Credit Agreement No. ____ dated “__”_______ 20__ and the Sea Vessel Pledge Agreement dated “__”_________ 20__, the Seller transfers the sea vessel pledged under the said agreement into ownership, and the Buyer accepts and pays the cost of the sea vessel at the price of ________________ (_____________________) rubles in accordance with ( amount in words) with the following schedule: __________________
The sea vessel __________________________, which is the subject (name) of this purchase and sale agreement, belongs to the Seller by right of ownership in accordance with Certificate No.
____________ on the ownership of the vessel, issued __________________ “__”__________ 20__. A sea vessel ___________________ has the following characteristics: _____________ Home port is ____________________. The quality and completeness of the sea vessel meets established standards.
The seller transfers technical documentation along with the sea vessel, namely: _________________________________________.
The Buyer accepts the sea vessel for quality and completeness within ________ days after signing this
agreement, which is documented in the acceptance certificate of the sea vessel, signed by both parties. If defects and inconsistencies in quality and completeness are detected, the Buyer immediately sends a complaint to the Seller. The seller, within _________________ from the receipt of the complaint, eliminates the identified deficiencies. The signing of the acceptance certificate of the marine vessel by the Buyer excludes in the future any claims against the Seller in connection with the sold marine vessel.
Before signing the acceptance and transfer certificate, the risk of accidental loss or accidental damage to the sea vessel _________________________ lies with the Seller and passes to the Buyer after signing the acceptance and transfer certificate of the sea vessel.
Payment for the sea vessel is made by the Buyer in the amount in accordance with clause 1 of this agreement by transferring funds to the Pledgee's account no later than ___________________________ from the date of the next payment deadline. For late payment, the Buyer shall pay the Pledgee a penalty in the amount of ______% of the amount of the next payment for each day of delay.
From the date of entry into force of this agreement, the Buyer in accordance with Art. 353 of the Civil Code of the Russian Federation becomes the legal successor of the Seller under the agreement of pledge of the Marine vessel concluded between the Seller and the Pledgee on _________ 20__. The Buyer bears all the obligations of the Pledgor under the specified pledge agreement.
The Seller's obligation to the Pledgee under Credit Agreement No. _________ dated “__”__________ 199_ is secured by pledged property in an amount equal to the purchase price, namely: in the amount of ______________ rubles. The pledge obligation is terminated by payment by the Buyer of the stipulated price of the vessel in the manner established in this agreement, or in another manner agreed upon by the parties. Changes in the settlement procedure are carried out on the basis of a written agreement of the parties.
In connection with the replacement of the party, the Vessel Pledge Agreement is subject to re-registration in the prescribed manner.
The Seller undertakes, within ____ days from the date of signing this agreement, to transfer to the Buyer the maritime vessel pledge agreement dated “__”____________ 20__, as well as provide other necessary assistance in re-registering the Pledge Agreement.
The Seller is obliged to notify the Pledgee of the termination of the Pledge Agreement in connection with the Buyer’s fulfillment in full of his obligation to pay the cost of the purchased vessel (clause 1 and clause 2 of this agreement) within _______________ days from the date of completion of settlements. Within the same period, the Pledgee, together with the Buyer and Seller, notifies the State Administration of the ____________________ seaport about the termination of the Pledge Agreement.
For delay in transfer of the sea vessel, the Seller pays the Buyer a penalty in the amount of _____% of the amount specified in clause 1 of this agreement for each day of delay.
In cases not provided for by this agreement, the rights, obligations and responsibilities of the Parties are determined by the current legislation of the Russian Federation.
A purchase and sale agreement with an encumbrance comes into force from the moment of its state registration in _______________________________.
The parties are not responsible for failure to fulfill obligations due to circumstances that arose against the will and desire of the parties and that cannot be foreseen or avoided, including declared or actual war, civil unrest, epidemics, blockades, embargoes, earthquakes, floods, fires and other natural disasters.
If one party is unable to fulfill the contract within the prescribed period, it must immediately notify the other parties in writing within _______ days and, if the other party agrees to delay the fulfillment of obligations, continue to perform.
The parties undertake to resolve disputes and disagreements under this agreement, if possible, through negotiations.
Disputes are subject to consideration by the Arbitration Court ________________ in the manner established by the legislation of the Russian Federation.
This Agreement is drawn up in three copies having equal legal force, one copy for each of the parties.
Other conditions at the discretion of the parties:
_______________________________________
Legal addresses and details of the parties:

Contract for the sale and purchase of a car with an encumbrance

car with encumbrance

Omsk "___" ________________ 2012

Individual entrepreneur , acting on the basis of the Decision of the Arbitration Court of the Omsk Region dated January 1, 2001. in case No. A/2011 and the Determination of the Arbitration Court of the Omsk Region dated 01.01.2001. in case No. A/2010, hereinafter referred to as “ Seller ”, on the one hand,

___________________________________, represented by ___________________________________, acting___ on the basis of ____________________________, hereinafter referred to as the “ Buyer ”, on the other hand, hereinafter referred to as the Parties, have entered into this agreement as follows:

1.1. The Agreement was signed by the Parties in accordance with the Federal Law “On Insolvency (Bankruptcy)” based on the results of the sale of the property of an individual entrepreneur through May 23, 2012. open bidding in the form of an auction.

___________________________________ was recognized as the winner of the auction, which was documented in the Protocol on the results of the auction dated 01.01.2001.

1.2. The Seller undertakes to transfer ownership of the encumbered car to the Buyer, and the Buyer undertakes to accept and pay for it in the manner and within the time limits established by the contract.

1.3. The car has the following characteristics:

state number N 025 NO 55

engine number – not installed;

Chassis No. - not installed;

identification number (VIN): 4USFE43577LY78490;

year of manufacture 2007,

The car is encumbered with a pledge in favor of JSCB Bank of Moscow (OJSC) under pledge agreement No. 000/18/ dated 01/01/2001. The amount of encumbrances is 2,713,299.70 rubles (including penalties). The pledgee has not made any demands to include the debt amount in the register of individual entrepreneur’s claims.

1.4. The vehicle that is the subject of this agreement belongs to the Seller by right of ownership.

1.5. The Parties determine the moment of transfer of ownership of the property - after full payment of the price of the property and signing of the acceptance certificate.

2. Rights and obligations of the parties

2.1.1. Obliges to transfer to the Buyer the information specified in clause 1.3. of this agreement, the car within one day from the moment of full payment for the car by the Buyer under the terms of this agreement.

2.1.2. The Seller’s obligation to transfer the car is considered fulfilled from the moment the acceptance certificate is signed.

2.1.3. Simultaneously with the transfer of the car, the Seller transfers to the Buyer the documents related to it.

2.2.1. Obliges to accept and pay for the car under the terms of this agreement.

2.2.2. Payment for the car by the Buyer is carried out in the manner established by Section 3 of this agreement.

2.2.3. When accepting a car from the Seller, the Buyer checks its technical condition. Based on the results of vehicle acceptance, the Parties draw up and sign a transfer and acceptance certificate.

3. Price and payment procedure

3.1. The cost of the encumbered car, which is the subject of this agreement, is 37,500.00 (thirty-seven thousand five hundred) rubles 00 kopecks.

3.2. At the time of concluding this agreement, the Buyer paid 7,500.00 (seven thousand five hundred) rubles 00 kopecks - a deposit for participation in open bidding in the form of an auction.

3.3. Payment of the remaining cost of the car with an encumbrance in the amount of 30,000 (thirty thousand) rubles 00 kopecks is made by the Buyer within 30 (thirty) days from the date of signing this agreement.

3.4. All payments under this agreement are made by bank transfer by transferring funds to the Seller’s bank account specified in Section 7 of this agreement. The date of payment of the price of the property is the date the funds paid by the Buyer are credited to the Seller’s bank account.

4. Transfer of the risk of accidental loss of property and

accidental damage to property, encumbrance

4.1. The Seller bears the risk of accidental loss of the car, as well as the risk of accidental damage to it, until it is transferred to the Buyer. After the car is transferred to the Buyer under the acceptance certificate, the risk of accidental loss or accidental damage to the car passes to the Buyer.

4.2. The car is transferred with encumbrances. The sale of a car under this agreement does not entail the termination of the pledge in favor of JSCB Bank of Moscow (OJSC).

5. Responsibility of the Parties. Settlement of disputes

5.1. For failure to fulfill or improper fulfillment of their obligations, the Parties are liable in accordance with the current legislation of the Russian Federation.

5.2. In case of refusal or evasion of the Buyer from fulfilling the terms of this agreement, including payment for the car (even if the delay is insignificant in time and amount) within the period provided for in clause 3.3 of the agreement, the Seller has the right to unilaterally refuse to fulfill this agreement (terminate the agreement ) by sending simple written notice to the Buyer. This agreement is considered terminated upon expiration of 10 (ten) calendar days from the date of receipt by the Buyer of such notice. The notice is considered received by the Buyer, even if the letter is returned due to the expiration of the storage period or due to the absence of the addressee. In this case, the deposit paid by the Buyer will not be returned to him.

5.3. For violation of the payment terms provided for in clause 3.3 of the agreement, the Seller has the right to demand from the Buyer payment of a penalty in the amount of 0.01 percent of the unpaid amount for each day of delay.

5.4. Disputes and/or disagreements under this agreement are resolved by the Parties through negotiations. If disputes and disagreements are not resolved during negotiations, they are subject to resolution in court.

6. Other conditions

6.1. This agreement comes into force from the moment it is signed by the Parties and is valid until the Parties fully fulfill their obligations.

6.2. On all issues not regulated by this agreement, the Parties are guided by the current legislation of the Russian Federation.

6.3. This agreement is drawn up in 3 (three) copies having equal legal force, one copy for the parties to this agreement, one for the pledgee.