AFFIDAVIT REGARDING PURPOSE OF LOAN



AFFIDAVIT REGARDING PURPOSE OF LOAN

This affidavit is given on [date], by [name of purchaser] (Purchaser) to [name of seller] (Seller) (Parties).

Purchaser, being sworn, deposes and says:

1. Purchaser has agreed to purchase from Seller certain assets to be used in connection with the operation of a business, all as set forth in an Asset Purchase Agreement between the Parties (Purchase Agreement). The Purchase Agreement provides in part that Purchaser shall pay the purchase price partly in cash and partly on credit according to the terms of a promissory note (Note).

2. The Note executed on this date by Purchaser, as maker, and payable to Seller, as payee, is for the payment of the unpaid balance of the purchase price for the purchase of the assets that will be used for a business purpose.

| | |/s/______________________ |

| | |[Signature of Purchaser] |

|STATE OF MICHIGAN |) | |

|________ COUNTY |) | |

Signed and sworn to before me on [date].

|/s/__________________________________ |

|[Notary public’s name, as it appears on application for commission] |

|Notary public, State of Michigan, County of [county]. |

|My commission expires [date]. |

|[If acting in county other than county of commission: Acting in the County of [county].] |

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