Warranty Escrow 3150 Pio Pico Dr, Suite 101 Carlsbad, CA 92008 Service Corporation Tel (760) 434-1800 * Fax (760) 434-1805

TO:NEW SELLER

RE:YOUR BUSINESS SALE ESCROW

WELCOME TO WARRANTY ESCROW AND THANK YOU FOR ALLOWING US TO ASSIST YOU WITH THE SALE OF YOUR NEW BUSINESS !

Before Escrow closes, it’ll be our job to make sure any legal requirements (1) and those outlined in your Purchase Agreement, have all been addressed to everyone’s satisfaction. While this process can be a complicated one, with our experience and your cooperation, I know we can look forward to a smooth and expeditious escrow closing.

ESCROW INSTRUCTIONS – Having Escrow Instructions signed by both parties is the First Step toward closing your transaction. In order for them to be prepared, I need to get additional information from you and the Buyer. Escrow Instructions cannot be drawn until Escrow has received ALL the following documents from both the Buyer and the Seller:

ITEMS YOU NEED TO SEND TO ESCROW:

  1. Completed and Signed Buyer and Seller Info Sheets (blank forms attached);
  2. For a Buyer and/or Seller that are an Entity:
  3. If Buyer/Seller is a Corporation, I will need a copy of the filed Articles of Incorporation, the Bylaws, and the last Statement of Information (SI-200) you filed that names the current corporate officers (lines 4 thru 16 are filled in; if there is an “X” in box on line 3, then I will need form filed for the previous year);
  4. If Buyer/Seller is a LLC, I will need a copy of the filed Articles of Organization, Operating Agreement, and the most recently filed Statement of Information (LLC-12) naming current managers or members (lines 5 thru 14 are filled in; if there is an “X” in box on line 4, then I will need form filed for the previous year); and
  5. Please call me if you are another type of entity, are a foreign LLC or corporation, or have filed amendments and are uncertain what other documentation might be required.

PLEASE FAX, EMAIL, OR HAND DELIVER TO ME ITEMS ABOVE ASAP. ONCE I RECEIVE THESE FROM BOTH BUYER AND SELLER, I WILL PREPARE AND SEND OUT ESCROW INSTRUCTIONS FOR YOUR SIGNATURES.

And if at any time you have any questions, please don’t hesitate contacting me. I’m here to assist you! I can be reached by phone at 760-434-1800 (ext 104) or email me at .

I look forward to being of service to you!

Sincerely,

Debbie Hanson

Sr. Escrow Officer and Manager

(1)California Commercial Code, Division 6. Bulk Sales

Warranty Escrow SERVICE CORPORATION3150 Pio Pico Dr, Suite 101, Carlsbad, CA 92008

Phone: 760-434-1800 / Fax: 760-434-1805

SELLER INFO SHEET

COMPLETE IN FULL. If none state “None”, SIGN & RETURN

In order to expedite your transaction & comply with the Bulk Transfer laws, we are requesting that you complete this confidential form ASAP

I am the Seller of the business known as:______

Address where business is located:______

Year business began operations:______Years at current location:______

Other business names or addresses used in last three years:______

Escrow to process the Abandonment of Fictitious Business Name Statement? (Circle one) Yes No

SELLER CONTACT PERSON:______

PRIMARY PHONE #:______SECONDARY PHONE #:______

FAX:______EMAIL:______

SELLER IS A: (Circle one) Corporation Individual/Sole Proprietor LLC Partnership Husband/Wife

IFCORPORATION OR LLC - Exact name of Seller (must match Secretary of State’s records):

______

Complete Address:______

Auth Signer (name and title):______

Auth Signer (name and title):______

State formed in: ______Tax Identification No. (TIN): ______

I have attached copies of the following documents required by Escrow: (Circle response)

Articles of Incorporation/Organization: Yes No Most recent Statement of Information: Yes No

IF INDIVIDUAL(S):

Seller name::______Seller name:______

Soc Sec #:______Soc Sec #:______Address: ______Address: ______City/State/Zip: ______City/State/Zip: ______If married, name of Spouse:______If married, name of Spouse:______

If different than above: If different than above:

Phone: ( ) ______Phone: ( ) ______Fax: ( ) ______Fax: ( ) ______E-mail: ______E-mail: ______

LEASED PREMISES – (Complete this section if Buyer will continue operating business at current location):

Landlord/Property Manager Name: ______

Address: ______

Phone: ( ) ______Fax: ( ) ______

Employer Development Department #:______State Board of Equal–Re-sale Permit #: ______

ABC/Liquor License to transfer to Buyer: (Circle one) Yes No This is a franchise: Yes No

Loans, leases, judgments, or other debts to be paid off at closing:

1. Name: ______Phone: ( ) ______Acct No: ______

2. Name: ______Phone: ( ) ______Acct No: ______

The undersigned Seller(s) warrant and certify the above to be true and correct:

______

Date: ______Date: ______

THE BULK SALE ESCROW PROCESS

/ Warranty EscrowSERVICE CORPORATION
3150 Pio Pico Dr, Suite 101, Carlsbad, CA 92008 Telephone: 760-434-1800
Debbie Hanson, Escrow Officer